Snap highlighted revenue and user engagement gains for its messaging platform Snapchat in Q4 2020, while following Google and Facebook in issuing a warning over the impact of upcoming iOS privacy updates.
In its earnings statement, the company highlighted revenue of $911 million in the period, up 62 per cent year-on-year, with a net loss of $113 milion some $128 million less.
Daily active users rose 22 per cent to 265 million and there was a 30 per cent increase in users over the age of 35 consuming its Shows and publisher content.
But Snap warned its guidance for Q1 2021 was subject to “substantial uncertainty”.
CNBC cited CFO Derek Andersen as saying privacy changes planned by Apple for iOS 14 in the first half of the year could negatively impact Snap’s business in the long-term.
Chief business officer Jeremi Gorman has reportedly said the company had prepared for the privacy update by investing in use of first-party data for adverts, though warned the change could be disruptive and still harm its advertising gains.Subscribe to our daily newsletter Back