Why Snap CEO Evan Spiegel Believes Revenue Could Skyrocket in the Next 3 Years

Sean Burch
·1 min read
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Snap CEO Evan Spiegel on Wednesday said the company’s recent declaration that it’s on track for multiple years of at least 50% revenue growth may understate how well Snapchat is positioned. “The 50% number actually isn’t predicated on any further user growth or any engagement growth,” Spiegel explained during Morgan Stanley’s virtual TMT Conference. “That’s just looking at the steady state opportunity.” In other words, if Snapchat continues to add more users in the years ahead, revenue growth could easily come in higher than 50% year-over-year. Spiegel’s optimistic forecast came after the Los Angeles-based company said last month it anticipates sales will grow at a rapid clip between now and 2023. Before Spiegel’s clarification on Wednesday, shareholders may have assumed that estimate factored in adding more users along the way. Also Read: Snapchat Hits 265 Million Users, Tops Wall Street's Q4 Sales Estimates Snap is coming off a strong Q4 performance, with the company hitting 265 million daily active users after adding another 16 million DAUs during the final months of 2020. Snap also topped Wall Street’s Q4 revenue and earnings estimates for the quarter, with Snapchat posting $911 million in revenue for the quarter. Here are three other noteworthy points...

Read original story Why Snap CEO Evan Spiegel Believes Revenue Could Skyrocket in the Next 3 Years At TheWrap