Snapchat has done what arch-rival Facebook can’t!

Snapchat, which shared its revenue report for the fourth quarter of 2021, also saw a significant increase in the number of users.

Snap Inc, the owner of the Snapchat app, released its financial statement for the fourth quarter of 2021. The company reported revenue of $1.3 billion in the quarter ended December 31, up 42 percent year-over-year. Net income for the quarter reached $23 billion, while per-user revenue increased 18 percent year-over-year.

The number of users Snapchat gained in the fourth quarter of 2021 exceeded expectations. As you’ll recall, Meta’s revenue report, which owns apps like Facebook and Instagram, was disappointing. Facebook, which grows by user every year, fell for the first time in its 18-year history. Snapchat, on the other hand, performed better than its rival.

Snapchat users rise to 319 million

Snapchat users stood at 306 million in the third quarter of 2021, according to Snap Inc. The app increased by 13 million to 319 million daily users in the fourth quarter. This data shows that Snapchat has grown 20 percent since the same period in 2020.

When we look at region-based data, we see that Snapchat experiences the most significant growth in countries in the ‘Rest of the World’ category with 10 million gains. The social network has 97 million daily active users in the North American region, an increase of 6 percent year-on-year, and has 82 million users in Europe.

Per-user revenue also increased

In the fourth quarter of 2021, Snapchat’s per-user revenue was $4.06. For the same period in 2020, it was $3.44. In other words, the app managed to increase per-user revenue by 18 percent per year.

Revenue per user, meanwhile, rose 33 percent year-over-year to $9.58 in North America. Per-user revenue in Europe rose 33 percent year-over-year to $2.54; In the rest of the world category, it rose 1 percent to $1.12.