Snapchat is growing faster than Facebook and Twitter | TechCrunch

Snap released its first quarter financial results for 2022 today, affirming that it’s growing faster than its fellow U.S.-based competitors Facebook (now Meta) and Twitter. Meta reported its first loss in daily active users (DAUs) last quarter, while Twitter’s monetizable DAUs grew by 2% in the U.S. and 15% internationally. Snap, parent company to Snapchat, grew its DAUs 18% year over year to 332 million, but for the five previous quarters, its user growth exceeded 20%. But Snap is more concerned with its revenue, even though it increased 38% year over year to $1.06 billion. The company said it was on track to hit 44% growth since Q1 2021 but noted that after Russia invaded Ukraine on February 24, many advertisers paused their campaigns. Snap CFO Derek Andersen said that most advertisers resumed their campaigns within 10 days, but the disruption still had a negative impact on the company’s quarterly revenue. “We believe the impact of the war in Ukraine on input costs, marketing budgets and overall economic competence has been significant, and that it is difficult to predict its impact on a forward-looking basis,” Andersen said on Snap’s earning call.  Snap also missed its revenue goals in Q3 2021,…
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