Snap Q4 2023 Earnings: DAUs reached 414 million, up 10% year-over-year
Snap this month reported Q4 2023 results, with growing daily active users (DAUs), strong engagement, and progress on monetization initiatives.
![Snap logo](/content/images/size/w2000/2024/02/snap-logo.webp)
Snap this month reported Q4 2023 results, with growing daily active users (DAUs), strong engagement, and progress on monetization initiatives. Here are the key highlights:
Engagement:
- DAUs reached 414 million, up 10% year-over-year.
- Spotlight content views jumped 175% YoY, and monthly users grew 35%.
- Public Stories by Snap Stars increased over 125% YoY in the US.
Monetization:
- Snapchat+ subscription service reached 7 million subscribers.
- New AI features for subscribers drive engagement and potential ad revenue.
- 7/0 Pixel Purchase model led to a 90%+ increase in purchase conversions.
- Snap Promote simplifies ad creation for new advertisers.
- Creator Collab Campaigns connect brands with influential creators.
- AR Lenses viewed over 3 trillion times, with 300M daily users engaging.
Looking ahead:
- Q1 2024 DAU guidance of 420 million.
- Revenue expected to grow 11-15% YoY.
- Focus on improving direct-response ad platform for better results.
What it means for marketers:
- Snap's growing and engaged user base offers a valuable audience.
- New ad formats and features create opportunities for creative campaigns.
- AR capabilities can enhance brand experiences and drive results.
- Investing in Snap early in its monetization journey could be advantageous.
Despite positive results, Snap still faces challenges, including profitability and competition. Revenue was $1,361 million, compared to $1,300 million in the prior year, an increase of 5% year-over-year. Net loss was $1,322 million in 2023, compared to $1,430 million in 2022.
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