Skip to main content

Snapchat Now Has 750 Million Monthly Active Users Globally, Snap CEO Evan Spiegel Says

Snap Chief Executive Evan Spiegel said Thursday the company's photo messaging app Snapchat now has 750 million monthly active users, while speaking during an investor presentation.

Last month, Snapchat reported dismal quarterly earnings, revealing that current quarter revenue could decline by as much as 10 percent, as the social platform struggles with weak advertising demand.

The owner of photo messaging app Snapchat was the first of the major digital advertising platforms to report fourth-quarter results, which provides an early clue for platforms like Facebook owner Meta Platforms and Alphabet's Google.

In a letter to investors, Snap said a weakening economy, increased competition from other social media platforms and "platform policy changes" continued to hurt its business in the fourth quarter.

Apple began rolling out privacy changes on iPhones in 2021 that have limited advertisers' ability to collect data for targeted advertising.

Snap Chief Executive Evan Spiegel said during a conference call with analysts that the company is working to improve its ability to measure and boost the effectiveness of its ads, but it would take time for the investments to translate into higher revenue.

Snap's net loss was $288 million (roughly Rs. 2,350 crores) during the quarter, down from net income of $23 million (roughly Rs. 190 crores) the previous year. Revenue for the fourth quarter that ended December 31 was $1.3 billion (roughly Rs. 1,06,000 crore), flat from the prior-year quarter and in line with analyst expectations.

© Thomson Reuters 2023

The iQoo Neo 7 packs a lot of power at a affordable price. But did the company cut the right corners to keep the price low? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.


from Gadgets 360 https://ift.tt/tzCKWYU
Labels:

Comments

Post a Comment

Popular posts from this blog

Itel P55 With Dual Rear Cameras, 5,000mAh Battery Launched in India: Price, Specifications

Itel P55 5G was launched in India on Tuesday and it claims to be the cheapest 5G smartphone in the country. The phone is powered by an octa-core Dimensity chipset and supports wired fast charging. It carries an AI-powered dual rear camera unit and is offered in a single storage variant along with two colour options. Itel India also introduced the Itel S23+ alongside, and is a budget smartphone with a curved AMOLED display. The company is extending a two-year warranty on the handsets and is also offering free screen replacement within 100 days of purchase. Itel P55 5G price in India, availability Offered in Blue and Green colour options, the singular 8GB + 128GB variant of the Itel P55 5G is priced at Rs. 9,999. The phone will be available for purchase via Amazon India starting October 4. Itel P55 5G specifications, features Sporting a 6.6-inch HD+ (1600 x 700 pixels) display, the dual nano SIM-supported Itel P55 comes with a refresh rate of 90Hz. The phone is powered by an octa-co...
Post a Comment
Read more

Best Smartphones of 2022

When you think of the ‘best smartphones' of the year, it's easy to just picture expensive, flagship phones. However, like every year, we've had some real standout mid-range offerings as well in 2022 that might not go toe-to-toe with proper flagships, but offer enough performance and features at much more affordable prices. Folding phones continued to get better in 2022 thanks to Samsung pioneering this segment in India, while charging speeds reached new heights. However, the big focus for all the phones on our list is cameras. We've seen smartphones with incredible zoom perfjoamcne, high-resolution sensors, and next-level video stabilisation for content creators. Depending on your budget and requirements, there's something for everyone in our list. All these smartphones have been reviewed by us and we've chosen only the best of the best, based on the ratings they received and what we felt were unique enough offerings that still stand out, even today. Here's...
Post a Comment
Read more