Snap Inc. (NYSE: SNAP) announced financial results for the quarter and full year ended December 31, 2017. Daily active users increased by 8.9 million to 187 million. Year over year, daily active users increased 28.8 million or 18%. Revenue in Q4 2017 was $824.9 million which is up 72% year over year. Revenue for the full year reported was up 104% year over year.
Cash and marketable securities were $2.0 billion at December 31, 2017. Cash management reduced Q4 2017 cash burn to $255 million, down 49% sequentially. Capital expenditures remained modest in Q4 2017, given our capital light business model, at $21.2 million compared to $20.4 millionin Q4 2016 and $25.9 million in Q3 2017. Full year capital expenditures were $84.5 million, less than $0.50 per DAU.
"Snapchat is doing really well when it comes to engagement; its users spend a significant amount of time on the app, and young users in particular are still very active," said Debra Aho Williamson, an analyst for EMarketer, a research firm.
Not all analysts were optimistic on this earnings release. "Snap is going through a painful maturation phase to turn this one-trick-pony platform into a broader, ad-centric consumer app that will enable Snap to increase [average revenue per user] and [daily active user] growth," Daniel Ives, an analyst for GBH Insights, wrote in a research note.