Snapchat has announced its first quarter financial results for 2022. According to these results, the social media application succeeded in surpassing its rivals Facebook (Meta) and Twitter. Last quarter, Meta reported its first loss in daily active users (DAU), while Twitter announced that it increased its monetizable DAU by 15 percent.
Snapchat continues to increase the number of daily active users!
Snapchat has increased its DAUs by 18 percent year over year to 332 million. The company, whose user growth exceeded 20 percent in the previous five quarters, achieved significant success in this regard. But Snapchat remains focused on its revenues, despite rising 38 percent to $1.06 billion.
The company said it was on track to achieve 44 percent growth since the first quarter of 2021, but noted that many advertisers paused their campaigns after Russia invaded Ukraine on February 24. Snap CFO Derek Andersen said most advertisers resume their campaigns within 10 days, but the cut still has a negative impact on the company’s quarterly revenue.
Snapchat also states that Apple missed its revenue targets for Q3 2021 due to the big iOS privacy change. When iOS users were given the option to disable out-of-app tracking, most users chose not to share any more personal data with the apps they use. Although this situation pleased users, it negatively affected the advertising business of Snapchat and Facebook.
During its quarterly results, Snapchat revealed that it invested heavily in augmented reality experiences. The company underlines that 250 million Snapchat users interact with AR features on a daily basis, which is a large part of the total 332 million DAU. This quarter, Snap rolled out AR enhancements for shopping as well as community-created AR experiences for local hotspots.
Next week, Snap will host the annual Snap Partner Summit, and CEO Evan Spiegel will announce some of the company’s new products and services at the event.
So what do you think about the snapchat app? You can share your views with us in the comments section or on the SDN Forum.
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