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February 4, 2020 10:42 pm
Illustration by Alex Castro / The Verge
Original Link: https://www.theverge.com/2020/2/4/21122447/snapchat-snap-earnings-2019-release
Snap keeps making innovative products, but at a cost
Illustration by Alex Castro / The Verge
Snap continues to grow its user base with the release of innovative product features, but those features have come with a steep monetary cost. In its latest earnings call, Snap disclosed that it lost $241 million this past quarter on $561 million in revenue, compared to only $192 million in Q4 of 2018 on $390 million in revenue. It did manage to grow its daily active user base by 8 million this quarter, to reach 218 million. However, it’s asking for investors’ patience while it works on making its way to annual profitability, although Snap highlighted that it achieved adjusted EBITDA profitability this quarter.
In prepared remarks, Snap CEO Evan Spiegel said he’s confident in the company’s “long-term growth and profitability,”...
Original Link: https://www.theverge.com/2020/2/4/21122447/snapchat-snap-earnings-2019-release
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