Snapchat is growing faster than Facebook and Twitter – TBEN – The Bharat Express News

Snap released its first-quarter 2022 financial results today, saying it is growing faster than U.S. rivals Facebook (now Meta) and Twitter. Meta reported its first daily active user (DAU) loss last quarter, while Twitter Monetizable DAUs grew by 2% in the United States and by 15% internationally. Snap, Snapchat’s parent company, grew its DAUs 18% year-over-year to 332 million, but for the previous five quarters its user growth exceeded 20%. But Snap is more concerned about its revenue, even though it rose 38% year-over-year to $1.06 billion. The company said it was on track to achieve 44% growth since the first quarter of 2021, but noted that after Russia invaded Ukraine on Feb. 24, many advertisers paused. their campaigns. Snap Chief Financial Officer Derek Andersen said most advertisers resumed campaigns within 10 days, but the disruption was still negatively impacting the company’s quarterly revenue. “We believe the impact of the war in Ukraine on grab costs, marketing budgets and globally economic skill possesses been important, and that this is difficult for predict his impact on a before-looking at on a basis,” Andersen said during Snap’s earnings call. Snap also missed its third-quarter 2021 revenue targets, citing Apple’s big iOS privacy…
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