Snap is finally profitable | Engadget
Nearly five years after going public, Snap is . The company shared the milestone in its fourth-quarter earnings report, where it reported $23 million in positive net income.
That may be a tiny percentage of its $4.1 billion in quarterly revenue, but it’s an important step for the company which has at times struggled with user growth. But those challenges appear to be firmly behind Snapchat, as daily active users climbed to 319 million, an increase of 13 million for the second quarter in . DAUs were up 20 percent overall in 2021.
The news for shareholders was particularly welcome as Snap’s results came a day after Meta reported that Facebook’s daily active users had declined for the first time in its history. The resulting stock slide wiped more than off the company’s market cap.
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