Snapchat has reported significant user growth with over 900 million monthly active users and 460 million daily active users. In Q1, Snap Inc. achieved a 14% revenue increase to $1.36 billion and reduced its net loss substantially from $333 million to $140 million. This growth is attributed to a shift in advertising strategy, focusing more on direct response ads, which grew by 14%. However, the company cautioned about potential challenges due to economic uncertainties, refraining from giving formal guidance for Q2, while maintaining optimism about future long-term prospects.
Given the uncertainty with respect to how macro economic conditions may evolve in the months ahead, and how this may impact advertising demand more broadly, we do not intend to share formal financial guidance for Q2.
While there is uncertainty regarding the macro operating environment, we remain optimistic about the long term prospects for our business.
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