Snap’s usual business model: Invent cool new social features and have them stolen by Facebook and Instagram, then report low revenues and user loss. Not today. The company reported greater-than-expected revenues and says it’s managed to stop its user number from shrinking. Snap is still not a profitable company, but it covered a lot of ground toward becoming one in 2018.
Here are the top lines:
- $398.8 million in Q4 revenue, up 36% from the same quarter last year and a solid beat over the $377.4 million analysts were expecting
- Snap’s stock is up roughly 15% in after-hours trading
- Net loss was $192 million in Q4, a $158 million improvement from last year
- Full Year Loss was $1.26 billion in 2018 versus $3.45 billion in 2017
- Daily Active Users were 186 million in the quarter, compared to the 187 million Snap reported in Q4 2017
- Revenue guidance: Between $285 million and $310 million in revenue, or a growth of between 24% and 34% over Q1 2018.
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