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Snap beat Wall Street estimates for quarterly profit on Tuesday, benefitting from improvements to the Snapchat parent's advertising platform that has also helped it cut spending. Budget with ET Tax calculator The company has been making investments in artificial intelligence and machine learning tools in recent years to help in automated placement of ads, create personalized ads. That has helped Snap tap small- and mid-sized advertisers, making them the largest contributor to the company's ad revenue growth in 2024.
The company will roll out Sponsored Snaps, video ads that appear in users' inboxes and Promoted Places, a feature that highlights business locations on Snap Map, to additional markets. Snap has been focusing on direct response ads that are designed to prompt specific actions like app downloads or website visits, at a time when the company grapples with weakness in brand awareness ads in recent years. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
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Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company said it would grow its fulltime headcount by 8% to 10% this year. Snap reported adjusted earnings per share of 16 cents for the fourth quarter ended Dec. 31, beating analysts' average estimate of 14 cents, according to data compiled by LSEG.
Daily active users of Snapchat increased 9% year-over-year to 453 million in the quarter, beating estimates of 450.8 million. The company forecasts first-quarter revenue to be between $1.
33 billion and $1.36 billion, the mid-point of which was slightly above analysts' average estimate of $1.33 billion.
It expects adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $40 million to $75 million in the first quarter, below expectations of $78.1 million. Revenue in the fourth quarter grew 14% year-over-year to $1.
56 billion, marginally beating the average estimate of $1.55 billion..
