Snap SNAP reported fourth-quarter revenue of $1.72 billion, up 10% year over year, largely due to strength in average revenue per user. Adjusted EBITDA margin came in at 21%, up 300 basis points from the prior year, owing to growing operating leverage and a favorable sales mix. Why it matters: Despite a 5% year-over-year decline in global daily active users, or DAUs, traction in high-margin offerings such as Snapchat+, Sponsored Snaps, and Memories Storage Plans improved core platform monetization, supporting both top-line and profitability expansion.