Snap’s fourth quarter revenue increased 10% year-over-year to $1.72 billion, beating analysts’ estimates of $1.7 billion, as per data from fiscal.ai.
Snap shares rallied on Wednesday after it posted a 10% jump in fourth quarter revenue helped by growth in In-App optimizations.
Snap’s fourth quarter revenue increased 10% year-over-year to $1.72 billion, beating analysts’ estimates of $1.7 billion, as per data from fiscal.ai.
“Our Q4 results began to reflect the impact of our strategic pivot toward profitable growth, translating into revenue diversification and meaningful margin expansion,” said Evan Spiegel, Snap CEO. “This progress reflects our commitment to building a more financially efficient and profitable business while continuing to invest in the future of augmented reality and the consumer launch of Specs.”
Revenue from In-App Optimizations grew 89% year-over-year, supported by advances in foundational app models, broader adoption of the App Power Pack, and new immersive formats such as Playables.
Diluted net income per share attributable to common stockholders rose to $0.03 per share, compared to $0.01 it reported in the same quarter a year-ago. However, the profit fell short of analyst expectations of $0.15 per share.
