Snapchat Publishes Good Quarterly Results
Feb 12, 2018 // By:admin // No Comment
- Usage: 187 million people use the app each day. Snapchat has convinced 8.9 million more users in three months, the largest increase in over a year.
- Turnover: 285.7 million dollars in the fourth quarter of 2017 . Snapchat publishes results well above expectations. After the closing of the NYSE, the action $ SNAP flies to + 20%.
Results above expectations, thanks to Android
The significant increase in the number of users is undoubtedly to credit the developments made on Android. The application remains imperfect but it is much more stable than before, especially on cheap smartphones. Result: a retention rate up, + 20% compared to last year.
These improvements have enabled Snapchat to gain 3 million users in the “Rest of the world” (North America and Europe excluded). Above all, this newfound stability of the Android application has enabled Snap to significantly increase its revenues: a user in the Rest of the World has reported $ 0.56, against $ 0.30 in the previous quarter (to compare: $ 0.66 in Europe, $ 2.75 in North America
In terms of revenues, the turnover is up: it is approaching $ 286 million. On the other hand, the losses of Snap Inc. are always important: the company lost 350 million dollars in 3 months. This is the best quarter of the year on this subject, but Snap Inc. is still very far from balance.
The new version of Snapchat, for all the users
Snap Inc. also mentioned the major update of Snapchat, presented at the end of November and whose deployment began. Despite some mixed feedback, Evan Spiegel announces that KPIs are in good shape, especially among “older” users (those over 35): they consume much more content and spend more time on the application.
Deploying the update takes time because Snap Inc. wanted to evaluate the results little by little, but it will now accelerate. Moreover, it seems that for a large number of users, the update deployed today allows access to the new version of Snapchat. Snap Inc. states that all users will have access to the new version by the end of the first quarter of 2018.
January 31, 2018