Twitter and Snapchat publish their latest financial results


Two social networks that have faced challenges around their user-growth published their latest quarterly financial results yesterday. So how are Twitter and Snapchat doing? Twitter’s financial numbers were good: revenues up 18% year-on-year to $787m and a net profit of $191m for the quarter. However, its number of monthly active users (MAUs) was down by six million to 330 million. Twitter, though, prefers to cite the metric of ‘monetisable daily active users’ (mDAUs), which grew by 11% year-on-year to 134 million. One interesting stat: the US accounts for just under 21% of Twitter’s mDAUs, but just under 55% of its revenues.

As for Snapchat owner Snap, its Q1 revenues grew by 39% year-on-year to $320.4m, but the company recorded a net loss of $310.4m for the quarter. Snap doesn’t report MAUs, but its daily active users (DAUs) were 190 million – down by a million from this time last year. Positive stats: Snapchat now claims to reach 90% of all 13-24 year-olds in the US, and it now has more than 450 ‘premium content channels’ available in its app.

But coming back to that growth (or otherwise) in users: both Twitter and Snapchat pointed to quarter-on-quarter growth as a noteworthy trend: perhaps a sign that the companies have tackled some of their problems in the right way. Twitter’s mDAUs grew by eight million between Q4 2018 and Q1 2019, while Snapchat’s DAUs grew by four million in the same time period. Don’t call it a comeback just yet though: Facebook reports its Q1 financials later today, and it’s possible there’ll be some new Instagram numbers to put both Twitter and Snapchat back in the shade.

Stuart Dredge

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