Snap Swings To Q4 Profit, Unveils In-House AI Text-To-Image Model And New Super Bowl Activations

Snapchat parent Snap beat quarterly estimates as daily active users hit 453 million, up by 39 million. Revenue was on the high side of expectations, up 14% to $1.55 billion, as Snap swung to profit of $9 million from a $248 million loss in the prior year quarter. Shares ended 4% higher today and are up another 9% in after-market trading on the numbers. Direct response ad revenue growth was up 14% year-over-year in Q4 and was the largest driver of our ad revenue growth in 2024. In 2024, Snapchat+ subscribe ...