Snap Inc. Saw Its First Profitable Quarter as a Public Company

Snapchat’s parent company also saw its revenue increase to $4.1 billion USD last year.  

Tech 
5,894 Hypes 1 Comments

Snap Inc. on Thursday released its fourth quarter and full year 2021 financial results, noting positive net income for the first time as a public company.

For the full year ended December 31, Snap’s revenue increased 64% to $4.1 billion USD.  Net loss improved 48% to $488 million USD in 2021, and it was also the first full year of positive operating cash flow and Free Cash Flow of $293 million USD and $223 million USD.

In Q4 2021, the camera and social media company’s revenue increased 42% to $1.3 billion USD. Notably, the company saw its first quarter of positive net income as a public company of $23 million USD.

“2021 was an exciting year for Snap and we made significant progress growing our business and serving our global community,” said CEO Evan Spiegel in the release. “The strength of our core business has enabled us to accelerate our investments in augmented reality, transforming the way that the Snapchat community experiences the world through our camera.”

The company said that it innovated its augmented reality platform and invested in its content offerings last quarter, yielding positive results. Looking forward, it estimates that revenue in Q1 2022 will be between $1.030 million USD and $1.080 million USD.

The company, which names Snapchat, Spectacles and Bitmoji as its products and services, went public in 2017. Its shares soared as much as 62% after hours on Thursday following its financial release, according to CNBC.

In other news, Meta lost $10 billion USD building out the metaverse in 2021.

Read Full Article

What to Read Next

Snap Launches AR Overlays for Real World Landmarks
Tech

Snap Launches AR Overlays for Real World Landmarks

Blending our reality with virtual experiences.

BET Announces Unscripted Music Docuseries on Irv Gotti's Murder Inc. Records
Entertainment

BET Announces Unscripted Music Docuseries on Irv Gotti's Murder Inc. Records

The renowned label launched the careers of hip-hop legends including Ja Rule, Ashanti and more.

Evisen Skateboards Gets Expansive With its SS22 Collection
Fashion

Evisen Skateboards Gets Expansive With its SS22 Collection

The Japanese skate imprint delivers a wide range of offerings.


Tame Your Wild Hunger With Burger King Japan's King Yeti One Pound Burger
Food & Beverage

Tame Your Wild Hunger With Burger King Japan's King Yeti One Pound Burger

Four beef patties and six slices of Gouda cheese.

Telfar Brings On Vegan Leather Goods in Red Colorway
Fashion

Telfar Brings On Vegan Leather Goods in Red Colorway

Including shopping bags, a logo cap, and a buckle belt.

Sam Friedman Floats Between the Representational and the Abstract in ‘Beach Portfolio One’
Art

Sam Friedman Floats Between the Representational and the Abstract in ‘Beach Portfolio One’

A new print suite made in conjunction with Louis Buhl & Co.

Kanye West's adidas YEEZY BOOST 700 "Sulfur Yellow" is Revealed
Footwear

Kanye West's adidas YEEZY BOOST 700 "Sulfur Yellow" is Revealed

This vivid colorway is expected to drop during Spring.

Cleon Peterson Releases His Second NFT Collection “So It Goes”
NFT

Cleon Peterson Releases His Second NFT Collection “So It Goes”

Coming soon to Nifty Gateway.

Saudi Golf League Reportedly Offers Bryson DeChambeau $135 Million USD to Join
Sports

Saudi Golf League Reportedly Offers Bryson DeChambeau $135 Million USD to Join

Multiple players have signed non-disclosure agreements with the league.


Pace Prints Presents "James Turrell: Aten Reign"
Art

Pace Prints Presents "James Turrell: Aten Reign"

Five meticulously crafted editions on view in Chelsea.

Wes Lang’s Existential “Pink and Blue” Exhibition Paints a Vivid Afterlife
Art

Wes Lang’s Existential “Pink and Blue” Exhibition Paints a Vivid Afterlife

On view at Almine Rech New York through February 5.

Official Images of the Nike Air Jordan 1 Low SE “Pomegranate"
Footwear

Official Images of the Nike Air Jordan 1 Low SE “Pomegranate"

Clad in glossy, tonal red leather.

Another 'Scream' Sequel Is in the Works
Entertainment

Another 'Scream' Sequel Is in the Works

Matt Bettinelli-Olpin and Tyler Gillett will return to direct.

Nike Becomes an Equity Investor in the WNBA
Sports 

Nike Becomes an Equity Investor in the WNBA

Expanding on its 25-year commitment to the league.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.