Snapchat Q1 revenue reports an 85% YOY increase in small & medium-sized advertisers

Snapchat Inc. has announced its financial results for the quarter ending March 31, 2024, showcasing its revenue along with the application’s daily usage, new content to build community, along with its revenue diversification initiatives.

Here’s a summary along with the key highlights of Q1 of 2024: 

Revenue and Daily Usage: 

“The value we provide our community and advertising partners has translated into improved financial performance,” said Evan Spiegel, CEO. “Our large, growing, and hard-to-reach community, brand-safe environment, and full-funnel advertising solutions have made us an increasingly important partner for businesses of all sizes.”

As Q2 begins, Snapchat anticipates continued growth in its global community, leading to an estimated Daily Active User (DAU) count of approximately 431 million for the quarter. The company is focused on executing its roadmap to deliver enhancements to its direct response (DR) advertising platform, aiming to improve results for advertising partners and drive faster topline growth.

Snapchat’s revenue guidance for Q2 is in the range of $1,225 million to $1,255 million, suggesting year-over-year revenue growth of 15% to 18%. Given this revenue guidance and the planned investments for the quarter, the company estimates that Adjusted EBITDA will be between $15 million and $45 million in Q2.

Source: Social Samosa