Snap Inc. (SNAP) reported impressive fourth quarter and full year 2024 financial results, driving a surge of over 5% in its stock price during the pre-market trading session on Wednesday.
The key highlights from Snap's Q4 2024 performance include:
Snap's strong performance was driven by its efforts to enhance its advertising platform, attract more active advertisers, and diversify its revenue streams. The company's focus on monetization and cost optimization initiatives also contributed to its improved profitability.
Looking ahead, Snap expects first-quarter revenue to be between $1.33 billion and $1.36 billion, and Adjusted EBITDA to range from $40 million to $75 million. The company plans to grow its full-time headcount by 8% to 10% in 2025 to support its growth initiatives.
Evan Spiegel, CEO of Snap Inc., stated, "In 2024, we made significant progress on our core priorities of growing our community and improving depth of engagement, driving top-line revenue growth and diversifying our revenue sources, while building toward our long-term vision for augmented reality."
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