Summary by Moomoo AI
Snap Inc, the parent company of the popular social media platform Snapchat, reported its full-year financial performance for 2023. The company's revenue remained stable at $4.6 billion, consistent with the previous year's figures. Despite this, Snap Inc faced a net loss of $1.3 billion, which was a slight improvement from the $1.4 billion loss in 2022. The diluted net loss per share improved marginally to $(0.82) from $(0.89) year-over-year. Adjusted EBITDA saw a significant decrease to $161.6 million in 2023 from $377.6 million in 2022. The company's user metrics showed growth, with Daily Active Users (DAUs) increasing by 10% to 414 million in Q4 2023. However, Average Revenue per User (ARPU) declined slightly from $3.47 in Q4 2022 to $3.29 in Q4 2023. Snap Inc's business development focused on strategic priorities, including growing its...Show More