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BRIEF-Snapchat parent Snap Inc says 2016 revenue was $404.5 mln
February 2, 2017 / 10:06 PM / 10 months ago

BRIEF-Snapchat parent Snap Inc says 2016 revenue was $404.5 mln

Feb 2 (Reuters) - Snap Inc:

* For year ended Dec. 31, 2016, recorded revenue of $404.5 million, as compared to revenue of $58.7 million for the year ended Dec. 31, 2015

* Global average revenue per user in the three months ended December 31, 2016 was $1.05, compared to $0.31 for the same period in 2015

* In North America, ARPU in the three months ended December 31, 2016 was $2.15 compared to $0.65 for the same period in 2015

* Snap Inc’s two co-founders have control over all stockholder decisions because they control a substantial majority of company’s voting stock

* On average, 158 million people use Snapchat daily, and over 2.5 billion Snaps are created every day

* Worldwide advertising spend is expected to grow from $652 billion in 2016 to $767 billion in 2020

* Incurred net loss of $514.6 million in 2016 versus net loss of $372.9 million in 2015 Source text: (bit.ly/2k60CFN)

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