{"id":126767,"date":"2022-04-21T21:10:28","date_gmt":"2022-04-21T21:10:28","guid":{"rendered":"https:\/\/fin2me.com\/?p=126767"},"modified":"2022-04-21T21:10:28","modified_gmt":"2022-04-21T21:10:28","slug":"snap-q1-daily-active-users-jumped-18-to-332m-but-it-swung-to-a-loss-ceo-cites-challenging-operating-environment","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/snap-q1-daily-active-users-jumped-18-to-332m-but-it-swung-to-a-loss-ceo-cites-challenging-operating-environment\/","title":{"rendered":"Snap Q1 Daily Active Users Jumped 18% To 332M But It Swung To A Loss; CEO Cites &#8220;Challenging Operating Environment&#8221;"},"content":{"rendered":"<p>Snapchat parent Snap said its daily active users jumped 18% last quarter to 332 million, beating Wall Street targets but revenue and fell a bit short. The Santa Monica-based company like its rivals faces ad revenue headwinds from Apple privacy policy changes, macro and supply chain issues and labor costs.<\/p>\n<p>Revenue jumped 38% $1.06 billion. It swung to a net loss of $360 million (EPS of negative $0.02) from income of $287 million in the prior year.<\/p>\n<p>Snap is the first social media\/tech company to report this earnings season so is bellwether for the state of the digital ad market ahead of a raft of first-quarter results next week. In Snap&rsquo;s case, Wall Street is keen to see whether the rise the rise of TikTok and the waning pandemic are also creating headwinds.<\/p>\n<p>Evan Spiegel and Snap execs will host a conference call at 5 pm ET.<\/p>\n<p>Netflix and Snap are very different companies (streaming vs social media) but both have been high-flying, highly-valued growth stocks with Netflix taking a beating this week as growth slows.<\/p>\n<p>Snap has invested heavily in tools and content like Lenses that are popular with its Gen Z audience. Most analysts following Snap rate it a &ldquo;buy.&rdquo; The shares closed down 4.29% at $29.44. They are volatile in after-hours trade, dipping first, then rising.<\/p>\n<p>&ldquo;Our first quarter results reflect the underlying momentum in our business through a challenging operating environment,&#8221; Spiegel said. &ldquo;We remain focused on providing value for our growing community, delivering ROI for our advertising partners, and investing against our enormous opportunity in augmented reality.&#8221;<\/p>\n<p>Snap is hosting its annual Snap Partner Summit next week.<\/p>\n<p>&nbsp;<\/p>\n<h2>Must Read Stories<\/h2>\n<h3>Depp Gets Defensive In Testimony About Drug Addiction, Blackouts &#038; More: Watch<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/04\/Johnny-Depp-trial.jpg\"><\/p>\n<h3>&#8216;The Marvelous Mrs. Maisel&#8217; Bringing Back Reid Scott As Series Regular In Final Season<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/04\/Reid-Scott-Maisel-Courtesy-of-Collin-Stark-2.jpg\"><\/p>\n<h3>Complaint Against Bill Murray Forces Production Halt On Searchlight&#8217;s &#8216;Being Mortal&#8217;<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/04\/Bill-Murray-e1650566581932.jpg\"><\/p>\n<h3>Florida Lawmakers Vote To Repeal Special District For Disney World; Bill Sent To Governor<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/04\/Ron-DeSantis-Walt-Disney-World.jpg\"><\/p>\n<h2>Read More About:<\/h2>\n<p>Source: <a href=\"https:\/\/deadline.com\/2022\/04\/snap-1235007638\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Snapchat parent Snap said its daily active users jumped 18% last quarter to 332 million, beating Wall Street targets but revenue and fell a bit [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":126766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Snap Q1 Daily Active Users Jumped 18% To 332M But It Swung To A Loss; CEO Cites &#8220;Challenging Operating Environment&#8221; 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