In its Q4 2021 investor report, Snapchat’s parent company Snap revealed that is finally making profits after going public nearly five years ago. Snap reported a 64% increase in its yearly revenue as compared to last year. Furthermore, the company revealed that its daily active users saw an increase of 20% during the year.
According to the investor report, Snap Inc. made a total revenue of $4.1 billion in 2021. However, the company’s net profit was only $23 million, which is minuscule as compared to the total revenue of the company. Nonetheless, it has been one of the best years for Snap as the company finally made profits after going public back in 2017. There were times when Snap struggled to grow the user base for Snapchat and dealt with massive losses.
While lesser Snapchat Stories are being shared, Spiegel says that Snapchat users are consuming more premium and Spotlight content than sharing Snap Stories with friends or families. It is said that Spotlight users doubled since the last quarter of 2020. So going forward, the company expects to earn more from its premium offerings and its TikTok-like feed Spotlight.
