For the fourth quarter of 2019, the Santa Monica, California-based company’s daily active users (DAUs) grew 17% year-over-year to 218 million. Snap has been investing in developing new features and capabilities to drive user growth and engagement.
DAUs increased sequentially and year-over-year in North America, Europe, and Rest of the World and also on each of iOS and Android platforms.
For the first quarter of 2020, Snap projected revenue to be between $450 million and $470 million.
Commenting on the full-year results, CEO Evan Spiegel said, “In 2019 we saw momentum across the board. We grew our community by 31 million daily active users, accelerated our revenue growth, and progressed towards profitability by improving full-year Adjusted EBITDA by 65% year-over-year.”
SNAP stock, which reached a new yearly high ($19.76) ten days back, has gained 28% in the last three months and 173% from this time last year.