- Snap's revenue increased by 10% year-over-year to $1.7 billion, with a boost from the growing Snap+ subscription service (24 million subscribers).
- Daily active users slightly decreased in North America and Europe, despite growth in other regions.
- Snap is expanding beyond advertising with new offerings like paid Memories storage and plans to launch augmented reality glasses ("Specs") through a dedicated subsidiary.

A: Did you hear about Snap’s latest news?
B: No, what happened? Tell me!

A: Okay, so they’re trying to make money in new ways! Not just from ads.
B: Really? Like what?

A: Subscriptions! They have something called Snap+. It’s a paid service.
B: Oh, like a premium version?

A: Exactly! And it’s growing! They have 24 million subscribers now.
B: Wow, that’s a lot!

A: But… they're also having a bit of trouble. Their daily users went down a little bit.
B: Oh no! Where did they go?

A: Mostly in America and Europe. But growing in other places!
B: Interesting. So, it’s mixed news?

A: Totally! And they’re expecting less money next quarter because of Facebook, Instagram and TikTok.
B: Those guys are always a challenge!

A: But get this! They’re making AR glasses! Like, real glasses!
B: Seriously? Cool! When are they coming out?

A: Later this year! They even created a special company just for the glasses - Specs Inc.
B: That’s a big deal!

A: The boss, Evan Spiegel, says they want computing to be more natural and mixed with the real world.
B: Sounds very futuristic!

A: He also said they aren’t completely sure how they will make money from the glasses yet.
B: So, still figuring it out?

A: Yep! They just want to launch a really good product first.
B: Makes sense! Well, that’s a lot of news about Snap!