Snap Inc’s posted a positive net income for the first time as a publicly listed company in the fourth quarter, according to a news release by Snap on Thursday.

  • For the full-year results, Snap’s revenue jumped 64% to $4.1 billion. Net loss improved 48% to reach $488 million in 2021, and it was the first full year of positive operating cash flow and free cash flow of $293M and $223M.
  • In Q4, the camera and social media company’s revenue expanded 42% to $1.3 billion. The company recorded its first quarter of positive net income as a public company of $23 million.
  • Evan Spiegel, the CEO, stated that 2021 was an exciting year for Snap, and the company made significant progress in growing its business and serving the community.
  • Spiegel further stated the strength of core business has helped the company to grow investments in augmented reality.

The company stated that it innovated its augmented reality platform and invested in its content offerings last quarter, generating positive results. It projects that revenue in Q1 2022 will be between $1.03M and $1.08M. SNAP up +48.49%, Pre-market trading