Snap posts revenue of $4.1 bn and net loss of $488 mn

Snap, the parent company of Snapchat, has reported $1.3 billion in revenue (up 42 percent) with a net income of $22.6 million in the fourth quarter of 2021.
Snapchat for CIOsSnap’s daily active users (DAUs) increased 20 percent to 319 million. The growth in DAUs has been 20 percent or more for five consecutive quarters.

The company posted 64 percent growth in its full-year revenue to $4.1 billion and net loss of $488 million in 2021.

“2021 was an exciting year for Snap and we made significant progress growing our business and serving our global community,” said Snapchat CEO Evan Spiegel.

“The strength of our core business has enabled us to accelerate our investments in augmented reality, transforming the way that the Snapchat community experiences the world through our camera,” he said in a statement late on Thursday.

Apple’s iOS privacy changes that have affected several platforms did not have much impact on Snap’s growth.

In Q4 2021, 25 different Discover partners each reached over 50 million unique Snapchatters globally, including Universal Music’s Rebel Labs, social publisher Jungle Creations’ lifestyle content, and Team Whistle’s sports content.

The company launched two Snap Map Layers, Memories and Explore, which allow users to view their saved Snaps by location and explore new ones around the world and have been used over 100 million times since launch.

“We partnered with e-commerce company Flipkart and cosmetics companies Sugar Cosmetics and MyGlamm to bring more AR shopping and virtual try-on experiences to Snapchatters in India,” Snap said.

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