Snap reaches 375 million users in Q4, but ad revenue didn’t follow

Snap yesterday announced the financial results for Q4 2022. Daily active users (DAUs) were 375 million, an increase of 56 million, or 17% year-over-year, but average revenue per user (ARPU) was down 15%.

Snapchat is mainly growing outside the US, where ARPU is lower. Despite the growth in users, Snap revenue in Q4 was $1,300 million, compared to $1,298 million in the prior year.

ARPU was down 15% globally, down 9% in North America, down 6% in Europe, and down 2% in the rest of the world.

Snap ARPU in North America was $8.77, while in Europe $2.38, and in the rest of the world $1.10.