Snap Revenue Surges 72% on User Growth, Advertising Gains

Snap Revenue Surges 72% on User Growth, Advertising Gains

Snap stock is down over 43 percent since its first day of trading in early March and the company looks a lot more like the next Twitter than it does the next Facebook.

For Q3, Snap reported 178 million daily active users (DAUs) vs. the 181.8 million expected by analysts.

Snap, which makes the Snapchat photo-messaging app, said fourth-quarter sales jumped 72 percent to $285.7 million, beating the $252.8 million average projection of analysts, according to data compiled by Bloomberg.

In 2017, the year it went public, Snap recorded a stock-based compensation expense of $2.6 billion, accounting for 77 percent of its net loss and more than three times the amount it generated in revenue.

The results mark a rare win for Snap, whose first year as a public company has been hobbled by stagnant user growth and management departures, including the loss of its heads of product and engineering.

Snap, which makes the Snapchat app, has been struggling to stay ahead of Facebook and Instagram.

Judge Upholds UK Warrant Against Julian Assange
Despite the fact that the Swedish case has been dropped, the British authorities consider that he breached his bail conditions. In 2016, a United Nations panel said that Sweden and the U.K. were arbitrarily detaining Assange, NPR's Leila Fadel reported .

If you want to know how a company like Snap can lose nearly $3.5 billion in a year, look no further than stock rewards to engineers.

Snapchat closed the year with $825 million in revenue, which was double the revenue of 2016. It's a significant boost in users since the third quarter of 2017, when Snapchat added just 4.5 million DAUs.

"Our business really came together towards the end of past year", Spiegel said in remarks prepared for a conference call with analysts.

However, three months later, that redesign has still not rolled out widely, and investors will be looking for answers as to what's taking so long.

Among other features, the redesign promised to have a clearer delineation between content from friends and content from publishers.

Spiegel warned in November that the redesign could be disruptive to Snap's business in the short term, so it will be interesting to see if the company provides any color as to how the rollout is going so far. This tool may also encourage Snapchat users to check the app more often, especially if you don't know how many direct messages you really have. Its net loss was about $350 million for the quarter ended December 31.

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