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The society brag in itspress releaseit had produce daily active user by 10 % twelvemonth - over - year to 414 million , but that figure was only up from406 millionin the prior quarter . And it failed to grow users substantially in a tail that ’s often the biggest of the yr for app developers as people have more downtime to operate with their smartphones over the holiday and download newfangled apps . Though Snap still has grip with young drug user — arecent study found it was kids ’ second most democratic communicating app , behind WhatsApp , and most democratic by meter spent — it has go to turn to Meta ’s scale as it ’s not attracting grownup the way that competitors like Facebook , Instagram and TikTok do . And as lawmakersprepare to crack down on apps that target children , Snap ’s liberal - for - all day may be number .
CEOs from Meta , TikTok , Snap , X and Discord head teacher to Congress for kids ’ online condom hearing
originally this workweek , reports of Snap ’s of extensive layoffs appeared to telegraph news that the party was not expect a good poop , unlike Meta , which not only bollocks up preceding Wall Street ’s expectations in Q4 , but also paid out itsfirst - ever quarterly dividend .
alternatively , Snap pull in $ 1.36 billion in revenue , below expectation of $ 1.38 billion . However , it beat on pay per portion at 8 cents versus 6 cents as carry .
Its outlook for the first quarter also did n’t align with what investors wanted to see , with a forecast of 420 million everyday active user — another small increase , though for the most part in line with forcing out — and revenue of $ 1.095 billion to $ 1.135 billion , or 11 % to 15 % growing . Investors were looking for fast growth .
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The company has struggled to extend beyond its core app , with its hardware projects like Snap Spectacles and the Pixy pilotless aircraft for the most part flush it to gain traction . The latter was discontinued and was evenjust recalled as a fervidness hazard . Meanwhile , Snap ’s attempts to expand into the enterprise market place have n’t do as well , either , withSnap shutter its ARES ( Augmented Reality Enterprise Service ) division after less than a year .
Now AR looks like a elapse fad , as Snap ’s once - apt AR filters are quickly being replaced by more forward-looking AI filters , with consumer adoption of the latter taking placemore often on TikTok . Snap is attempt to swivel into this area with investments in its Lens Studio , used by AR Lens God Almighty , which now offers AI capableness . But the AI features are still in genus Beta . It ’s also toying withAI - powered Snap enhancementsandAI imagesfrom a text prompting , but on this , it has many competitor . Meanwhile , Snap ’s travail at offering its own AI chatbot have been reach or miss , with the bot ’s merepresence anger some drug user at first , then deliveringunderwhelming outcome .
More to get .
Snapchat ’s parent lays off 10 % of work force for ‘ reduce hierarchy , ’ tell company
