AdvertisingSnap is a net beneficiary of reduced ad spend on TikTok, potentially increasing its second-half revenue by around $100 million.
Revenue GrowthSnap’s year-over-year revenue growth rate of 21% in the first quarter significantly accelerated from 5% in the previous quarter, marking a major improvement from the decline experienced a year ago.
User EngagementSpotlight engagement and creator community are continuing to grow, with Snap adding 8 million daily active users in the first quarter, bringing the total to 422 million, a 10% increase year-over-year.