Snap clocks first quarterly profit; India expansion helps grow globally – Mint

Home / Companies / News /  Snap clocks first quarterly profit; India expansion helps grow globally Premium Snapchat dysmorphia, has also caught the fancy of Indian youth, who are seeking surgery to get fuller lips, bigger eyes, or a thinner nose, based on their favourite filters. Photo: Reuters 2 min read . Updated: 07 Feb 2022, 01:32 PM IST Shouvik Das Snap reported $22.6 million in net profit for Q4 on revenue of $1.3 billion, up 42% year on year Snap Inc, the holding company of the image-driven social media network Snapchat, is using the know-how it has garnered from expanding its products in India to build on community engagement exercises across the world.  Talking to investors at the earnings call, Evan Spiegel, chief executive of Snap, also revealed that the company’s recent efforts have helped it record its first profitable quarter since its launch in 2011. “Our expansion efforts in India continue to prove successful, and we are using our learnings to inform how we approach community growth in new geographies,” Spiegel said on Friday. Snap reported revenue of $1.3 billion in Q4 2021, up 42% year on year. Its annual revenue for 2021 hit $4.1 billion, growing at…
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