Snap's efforts to reel in new users are starting to pay off

07 February, 2018, 01:52 | Author: Natasha Holloway
  • NATION-NOW     Snapchat's parent finally sees a turnaround     
       Snapchat's parent finally sees a turnaround

As Evan Spiegel prepares to launch a redesigned Snapchat meant to draw new users and boost growth, the app's parent company reported its best quarter yet since its public debut. Snap added almost 9 million daily active users in the last quarter, the most since the third quarter of 2016, pumping its daily user base to 187 million.

Eyes will be on expectations that Snap added 6M users to reach 184M (16% Y/Y growth). Revenue per user rose 46 percent from a year earlier to $1.53, while cost of revenue per user rose 5 percent to $1.02. More importantly, revenue was up 72 percent year-on-year to $285.7 million, compared to the estimate of $253 million.

Excluding items, Snap reported a loss of 13 cents in the quarter. He also cited improvements to the company's Android app as part of the reason DAU numbers have risen, saying "people who try Snapchat on Android are much more likely to stick around and become Daily Active Users". Last year, the app surpassed both Instagram and Facebook in terms of total users in the 12-to-17 and 18-to-24 age groups, according to data from eMarketer. "Compared to the old design, core metrics around content consumption and time spent in the redesigned application are disproportionately higher for users over the age of 35, which bodes well for increasing engagement among older users as we continue to grow our business". Snap's new 8.9 million users will help, but the company will need to keep up the pace in order to thrive.

"Snap benefited from some of the seasonality that's expected during the holidays as advertisers heavy up but also saw some new brands come in and test the platform", Goldman says.

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The company expects its year-over-year revenue growth rate to "moderate" in the current quarter, compared with the fourth-quarter, Chief Financial Officer Drew Vollero said.

Snap said in its IPO prospectus that restricted stock units include performance incentives and time-based incentives, with most of the latter vesting over four years.

To make its app more friendly to users and advertisers, Snap launched a redesigned app in November, splitting "friends" from content feeds.



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