Snap Delivers Q1 Earnings Beat as Snapchat Tops 900M Monthly Users, Withholds Guidance Given Economic ‘Uncertainty’

Snap surpassed 900 million monthly active users in its first quarter, beating Wall Street estimates while posting a $1.36 billion revenue increase of 14%. However, the company did not provide Q2 guidance due to macroeconomic uncertainty and noted headwinds in ad sales during April. The milestone achievement came alongside an improved net loss compared to the previous year, though it still reported an 8-cent loss per share. Snapchat+ subscriptions reached nearly 15 million in Q1, a significant boost to its "other revenue" which grew by 75% to $152 million.