Snap, the parent company of Snapchat, has managed to increase its daily active users compared to the last year by 20%, we’re talking about 319 million DAUs. In the Q4 of 2021, Snap has managed to earn $1.3 billion in revenue, which is 42% higher than Q3, reporting a $22.6 million net income.
Snapchat increased its daily active users in the last quarter of 2021: 319 million DAUs
Snap has grown its user base while also posting a solid revenue result for Q4, as the company continues to establish itself as a key connecting platform for younger audiences in comparison to larger social media platforms.
Snap earned $22.6 million in net income during the fourth quarter of 2021, according to its earnings release.
The company reported 64% revenue growth for the year.
Snap CEO Evan Spiegel stated that:
“2021 was an exciting year for Snap and we made significant progress growing our business and serving our global community. The strength of our core business has enabled us to accelerate our investments in augmented reality, transforming the way that the Snapchat community experiences the world through our camera.”
For the past five quarters, daily active users have grown by at least 20 percent every quarter. It appears that Snap’s growth was unaffected by Apple’s iOS privacy changes, which have disrupted businesses on other platforms.
Snapchat stock price
Snap Map Layers Memories and Explore were introduced, allowing users to see their stored Snaps by location and discover new ones all around the world. Since its debut, over 100 million people have used them to explore new locations and see photographs taken in those areas on Snapchat.
The positive quarterly results made Snapchat stock prices rise a bit, at the time of writing SNAP:NYSE is valued at $24.50.