Snap reaches a revenue of $911 million in Q4 2020

Snap reaches a revenue of $911 million in Q4 2020

Snap this week reported the financial results for Q4 2020. Revenue increased 62% to $911 million in Q4 2020, compared to the prior year. Snapchat DAUs (daily active users) were 265 million in Q4 2020, an increase of 47 million, or 22%, year-over-year.

"Our quarterly revenue increased 62 percent year-over-year to $911 million, showing the trust advertisers have placed in us and our community’s receptiveness to brands with shared values. We expect our relationships with community members and business partners to become even stronger as our platform continues to evolve," said Evan Spiegel, CEO of Snap.

According to Snap, Snapchatters opened on average Snapchat 30 times every day in Q4 2020, and over 90% of the U.S. Gen Z population watched Shows and publisher content in Q4 2020.

SnapChat last year launched Spotlight, a platform surfacing the most entertaining Snaps. Snap says Spotlight grow to over 100 million monthly active users last month.

The ARPU in Europe was $1.91, in North America $7.19, and in the rest of the world $1.11. SnapChat ARPU grew 63% in the US but dropped 18% in the rest of the world. The rest of the world is where SnapChat is growing more: 55%.

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