Welcome to our dedicated page for Snap news (Ticker: SNAP), a resource for investors and traders seeking the latest updates and insights on Snap stock.
Snap Inc. (NYSE: SNAP) is a pioneering camera company at the forefront of technological innovation and social connectivity. At Snap, the belief is that reinventing the camera offers the greatest opportunity to enhance how people live and communicate. The company's flagship product, Snapchat, is one of the most popular social networking apps globally, boasting over 400 million daily active users as of the end of 2023.
Snap Inc. generates nearly all of its revenue from advertising, with North America being its most lucrative market, accounting for around 65% of sales despite only a quarter of its user base residing there. This underscores Snap's stronghold in the digital advertising space and its capacity to attract advertisers with its extensive reach and engaged audience.
Beyond social networking, Snap Inc. has been actively involved in various innovative projects and partnerships aimed at improving user experience and ensuring safety. A notable recent achievement is the collaboration with Integral Ad Science (IAS), a leading global media measurement platform. Announced on March 26, 2024, this partnership is set to provide advertisers with heightened transparency and brand safety for their Snapchat campaigns through IAS's AI-driven Total Media Quality (TMQ) Brand Safety and Suitability Measurement product.
The partnership aligns with Global Alliance for Responsible Media (GARM) standards and aims to give advertisers third-party validation and trusted metrics. Patrick Harris, President of Americas at Snap, emphasized Snap's commitment to building a safe content ecosystem. This collaboration with IAS, which has been ongoing since 2018, further strengthens Snap’s resolve to offer a reliable and secure platform for advertisers.
Snap Inc. continues to explore and develop new avenues to enhance its products and services, contributing to human progress by empowering people to express themselves, live in the moment, and learn about the world. For more information about the company and its career opportunities, visit Snap Careers.
Snap Inc. (NYSE: SNAP) reported Q2 2024 financial results with revenue increasing 16% year-over-year to $1,237 million. Daily Active Users (DAUs) grew 9% to 432 million, while Monthly Active Users (MAUs) surpassed 850 million. The company's net loss improved 34% to $249 million, and Adjusted EBITDA turned positive at $55 million, a 243% improvement. Snapchat+ reached 11 million subscribers, and active advertisers more than doubled year-over-year. For Q3 2024, Snap anticipates DAUs to reach 441 million and projects revenue between $1,335 million and $1,375 million, implying 12-16% year-over-year growth. The company expects Adjusted EBITDA for Q3 to be between $70 million and $100 million.
Snap Inc. (NYSE: SNAP) has scheduled its quarterly conference call to discuss second quarter 2024 financial results for Thursday, August 1, 2024, at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time).
The call will be available via live webcast and replay on Snap Inc.'s Investor Relations website for at least 90 days.
Snap Inc. announced the pricing of $650 million convertible senior notes due 2030 in a private placement to qualified institutional buyers. Snap also granted the initial purchasers an option to purchase an additional $100 million. The notes will be general unsecured obligations, with 0.50% interest payable semiannually. Snap may redeem the notes after May 5, 2027, or upon certain conditions. The notes will have an initial conversion rate of 45.0846 shares per $1,000 principal amount, representing a premium of 32.5% to the closing price of Snap Class A common stock on May 8, 2024.
Snap Inc. (NYSE: SNAP) announces a private offering of $650 million of convertible senior notes due 2030. The notes will be convertible at the option of the holders and Snap intends to use the proceeds for various corporate purposes. The offering may affect the trading price of Snap Class A common stock.
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