4/23/2019, 10:14 PM (Source: TeleTrader)
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Chart for: Snap Inc

Snap reports revenue of $320M in Q1, up 39% YoY

American tech company Snap Inc. reported on Tuesday that its revenue for the first quarter of 2019 stood at $320 million, which is 39% more than the same period a year ago, helped by the launch of its new Android application. The average revenue per user jumped 39% to $1.68 during the quarter from a year earlier. Net loss was at $310 million in the first three months of 2019, 20% down from the same period in 2018. Adjusted EBITDA loss improved 43% to $123 million compared to the prior year.

Daily Active Users (DAU) number rose approximately 2% from the previous quarter, while falling 0.5% annually to amount to 190 million in the last reported quarter.

"In the first quarter, we delivered strong results across our business with growth in daily active users and revenue," CEO Evan Spiegel said in the press release, stating the company "announced several new products that it believes will drive further engagement and monetization."

Snap's shares were up 5.67% in after-hours trading after the report.

Breaking the News / MD