Snap's direct revenue hits $1B run rate with 25M Snapchat+ subscribers, validating paid social media models as Meta follows suit.

Snap Hits $1 Billion Subscription Milestone as Snapchat+ Tops 25 Million

Snap delivers first net income in years—$45M profit—as subscribers surge 71% and gross margins hit 59%. DAU dips as company pivots to profitability.

Snap Posts First Quarterly Net Profit in Years as 'Crucible Moment' Strategy Pays Off

Snap beats Q4 with $45M net income, 5x prior year. CEO Spiegel's pivot to profitable growth sacrifices 3M users for margin expansion.

Snap creates Specs Inc. subsidiary for AR glasses, hiring 100+ roles ahead of consumer launch later this year to challenge Meta's Ray-Ban dominance.