Derek Andersen show 2020 country Derek Andersen

Snap Projects 50% Annual Revenue Growth for Next Several Years

variety.com

Todd Spangler NY Digital EditorAt its first investor day conference, Snap outlined a bullish future for the Snapchat app — with senior execs saying they expect the company to generate 50% revenue growth for at least the next several years.On the upbeat forecast, Snap shares popped more than 7% on Tuesday, with the stock hitting all-time highs, after dropping nearly 10% earlier in the day.Today, Snap has less than 2% share of the U.S.

digital ad market, while Snapchat reaches nearly half of U.S. smartphone users. The implication? That the company has plenty of runway to grow.CFO Derek Andersen said at the event that based on the monetization platform Snap has built and its product road map, “we can responsibly grow our topline revenue at.

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