These changes allow us to continue evolving the Snapchat service and provide a foundation for introducing even more creative tools for making fun Snaps!
Snapchat floated on the U.S. stock market for the first time earlier this year, having been valued at more than £17 billion ahead of its initial public offering (IPO) in March. (This was a simpler time before secret screenshotting hacks had been discovered, so at the very least your friend would know you had the picture.) That was Snapchat.
But that's actually a sequential decline from the fourth quarter, when it posted $165.7 million in revenue. That was about eight years after Facebook's first advertising product. In December 2015, the company recorded revenues of $58.7 million for the year. Less edited, less staged, more I just whipped out my phone and now I'm sending you an eight-second selfie of my face with seven chins. Focusing on Snapchat, 19% of the users aged 35-44 reported specifically increasing their usage of Snapchat in the cited period. Facebook has aggressively copied Stories in its full suite of apps in recent months. Lucinda Kelly of Popertee tells us why pop-ups are the way forward. It will have a chance to make its case again when it reports.
Cowen analyst John Blackledge in a report Friday said all eyes will be on Snap's report on daily active users, "a key area of debate since the IPO", he wrote.
When it went public Snapchat's parent company promised investors growth, not profit. While the images are still ephemeral, now your friends can just leave a Snap on their screen to examine, show others, and so on. It's committed at least $390 million to cloud spending for 2017 alone. In 2016, the company took a net loss of $514.6 million. If not, the big commitments it made could be a major drag on profits.
Snap stock was up 1.6%, near 22.80 during morning trading in the stock market today.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. You will tap on it and then tap the stars icon to erase and replace things in your Snap. This update should help them perform even better in the second quarter. The Motley Fool owns shares of and recommends Facebook and Twitter.
Adam Levy has no position in any stocks mentioned.