Snap revenue takes a hit in Q1 2018, down from $286M in Q4 2017 to $231M last quarter
Snap Inc. launched its quarterly income for Q1 2018, reporting $230.7 million in general earnings for the primary quarter of the 12 months.
Yr over 12 months, Snap’s general earnings noticed a 54 % bounce — however earnings used to be down in comparison to the former quarter, when it reported $286 million in This autumn 2017.
CEO Evan Spiegel attributes the loss in earnings to the corporate’s resolution to roll out a big redesign of the app this quarter — isolating consumer content material from writer content material.
“As we now have discussed on our previous two income calls, a metamorphosis this large to current habits comes with some disruption, particularly given the top frequency of day-to-day engagement of our neighborhood,” says Spiegel.
The CEO says the corporate is beginning to see early indicators of stabilization for its iOS customers for the reason that redesign, however the platform nonetheless has paintings to do for Android customers.
!serve as(f,b,e,v,n,t,s)(window, report,’script’,’https://attach.fb.web/en_US/fbevents.js’); fbq(‘init’, ‘284264255335363’); // Insert your pixel ID right here. fbq(‘monitor’, ‘PageView’); window.fbAsyncInit = serve as() ; // Load the SDK (serve as(d, s, identity)(report, ‘script’, ‘facebook-jssdk’));