Snap Inc. released its quarterly earnings for Q1 2018, reporting $230.7 million in total revenue for the first quarter of the year.
Year over year, Snap’s total revenue saw a 54 percent jump — but revenue was down compared to the previous quarter, when it reported $286 million in Q4 2017.
CEO Evan Spiegel attributes the loss in revenue to the company’s decision to roll out a major redesign of the app this quarter — separating user content from creator content.
“As we have mentioned on our past two earnings calls, a change this big to existing behavior comes with some disruption, especially given the high frequency of daily engagement of our community,” says Spiegel.
The CEO says the company is starting to see early signs of stabilization for its iOS users since the redesign, but the platform still has work to do for Android users.
[Read the full article on MarTech Today.]
About The Author
Amy Gesenhues is Third Door Media’s General Assignment Reporter, covering the latest news and updates for Marketing Land and Search Engine Land. From 2009 to 2012, she was an award-winning syndicated columnist for a number of daily newspapers from New York to Texas. With more than ten years of marketing management experience, she has contributed to a variety of traditional and online publications, including MarketingProfs.com, SoftwareCEO.com, and Sales and Marketing Management Magazine. Read more of Amy’s articles.
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