Recent SNAP transcripts
Associated SNAP filings
Evan Spiegel | Chief Executive Officer and Co-Founder |
Jeremi Gorman | Chief Business Officer |
Derek Andersen | Chief Financial Officer |
Betsy Frank | Senior Director of Investor Relations |
Rich Greenfield | LightShed Partners |
Eric Sheridan | Goldman Sachs |
Ross Sandler | Barclays |
Doug Anmuth | JPMorgan |
Brent Thill | Jefferies |
Tom Champion | Piper Sandler |
Good afternoon everyone and welcome to Snap, Inc's Third Quarter 2021 Earnings Conference Call. At this time, participants are in a listen-only mode. After the prepared remarks, there will be a question-and-answer session. [Operator instructions] This call will be recorded. Thank you very much. of you Director begin. Senior Frank, Investor may Relations, Betsy
Chief to afternoon, prepared Quarter today's us statements release, Thank Andersen, Co-Founder, Chief Spiegel, to and good conference find remarks, Please Investor are copy slides, our and This assumptions Business Forward-looking our Welcome Gorman, of investor materially today Officer from Snap our Actual call Chief Jeremi updated on Evan these those includes Financial With today. expressed make you, and we to Derek disclosures. to results which call. no Relations and everyone. differ website our based Third press Officer, update investor.snap.com and conference presentation. of in XXXX are a refer as Officer. Executive statements, our Earnings obligation Forward-looking may at
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Thanks, Jeremi.
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the we That will earnings remarks concludes for we prepared session. time, [Operator begin to question-and-answer And momentarily this roster. our At assemble pause now today's Instructions]. call. the will
ahead. Greenfield please go Rich first The from question LightShed Partners, with comes
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the question Derek speaking. growth I the opportunity second long-term Hey, take your half business. as will it's it to pertains of Rich, of
potential are We remain or confident we first thing we to here the we business. demonstrating and the growth progress I'd growth the our return. of capacity intact business business of elevated on The rates our significant share is the of fundamentals long-term that believe believe in drive made
ad are iOS about, including year-over-year the XX% exceeded headwinds. deceleration driving changes Evan X of said, near-term well heading the delivered now growth our we've we've significant are example, for and T that quarters. just labor X-year rate supply a topline, as for disruptions growth average So, market that hat we a consecutive cumulative headwinds seeing as And QX chain in spoke into XX%.
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to next a XX I'll to Thanks months, and If to give maybe you them much follow folks the look bit in go, attribution what solutions maybe of and transition in down and where point terms get duration so we and of in to these measurement take to narrow over made it want a us little need investments of of on broader the to medium to Thanks it bit can for for much. bit. the deeper some try prove of drill over term. on to taking little additional long based be up some Rich's down the advertiser question your how out more would sense and out industry a comfort of solutions little you the advertising of
much This question. so is the Thanks Jeremi. for Sure.
terms the We assisting on thing this are do. of advertisers that we in it's most important definitely our navigating focused environment, can
As efficacy the important so the or we're in last of make decade that their it's advertising, have step we And single to ensure with to most them definitely it's Evan they the of want change way solutions they every [Indiscernible] place a to that our priority. sure measure longer. from need mentioned,
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they're learn best just used who that best they to, practices ensure test as SKAdNetwork, as remain sharing advertisers utilize we're successful to information can than and advertisers First, to with for less choose mentioned. the Evan
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that are to we ROI drive And within set in allow investing experiences. with of Third, growing advertisers will native all deeper Snapchat. our experiences. But
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to the right solutions with of in advertisers front the we're them. So, product have that when need work right we to very they ensure and continuing closely engineering
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education confident are learning. There's going in time. to We the We right is that testing believe lot takes of that a solution, and solution. be it but
ahead. comes Sandler go next Barclays. Our with from Ross Please question
and just for Derek. on one then Great. follow-up maybe one that Jeremy, last answer,
is solutions to then how we and seeing a Snapchat, achieve impairing relative permanently bit. And this And all that at if iOS previous us of levels a how tooling you direct look back brand do fourth versus on you has eroded are much what is rollout on So, the you think the stuff were the how do bring these e-commerce to just past, the view privacy of prior usually June. to Derek, mix in campaign other Snap? kind little [Indiscernible] response mix to going a of on e-commerce you've average back or ago quarter down in quarters, bigger advertising can companies years talked couple about the
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the that, answer, to talked about advanced since for advertisers the in the actually we available addition that's web -- been In conversions have last what but we Spring.
ads and our in just measurement effective are continuing they that tools partners approximately to we're as And first-party our changes. were to terms studies continue So, show are learn, with there. our iterate advertising to test, then these in they of as [Indiscernible] general, and effective prior
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to across conversions Derek going first-party, be those we things to as advertising for including well studies And are Conversions our We I first-party are look that help our our MMM third-party, will the conversion-less close fully gap to [Indiscernible] in optimistic Advanced we're calibrate studies, as meantime, seeing et validating solutions, And to estimated this partners. cetera, let and be answer with like adopted. partners, forward that measurement going through part.
Ross. the question. the and into heading take QX. part mix for Thanks will I Hey the about the business
QX. business our first So, that both of by brand seeing headwinds is share just the the and portions impacted thing the are the in we're DR I'd
oriented from supply of and Our earlier. industries, which revenue, a QX that both including described changes our facing headwinds advertising variety chain in a is the across and we labor the of wide partners. variety the is DR platform shortage DR iOS directly that The headwinds impact of wide majority partners business, we're advertising brand seeing related
driving think second demand during expect these precise normally bit it's QX. and brand-oriented to mix, pricing helpful a would spending in QX. auction this Heading overall of Yeah. into the of typically towards the our mix half And we shift in headwinds So, or a therefore reflects the two period. of mix this the persisting quarter, but I predict challenging this throughout exact both guide to is
So more your bit a context gives hopefully little is and with that you help question.
comes Please Anmuth Our next JPMorgan. from ahead. question go Doug with
the in more changes about follow-up Thanks separate ad when very on wondering that could you're for IOS taking the Spotlight, thinking if right and chain beyond supply a the way. wanted the a product the impacted you're I and and then, to Thanks. ad the on you the questions. time And monetize product of both be categories in Derek, question. disruptions. there Ross' will of then how specific by just seeing labor be and the testing most and just also bigger verticals any just some move early to curious it topic, terms
talk advertising I question how it impacted. half they're first your turn take being then to speaking. about Jeremi second Derek of over I'll the to partners and the It's could
In changes spent made to that doubled terms in we're excited having submissions of We're that early the an this -- engagement it's Spotlight, the results per time creator We're very about the We're for pleased DAU. seen in the after DAU that from we've seen, continuing also seeing on see that we've grow platform also our to terms perspective. fund of quarter-over-quarter quarter-over-quarter. platform. early to
to But early to great to in customer So, making experience We're our on on over still community. we're talk sure we're platform remains will ARPU it long the for optimization pleased, creator opportunity it to different Jeremi for and is I focused the add about the platform. to invest excited about continuing the categories. that the and over potential but customer impacts this turn our term. specific
Derek. Thanks definitely. Yes, Sure.
We've So verticals the talk about with lot labor well they're labor supply chain, -- hearing of most some the just here, industries a also variety and later and partners have by global constraints. the inventory been to in from meetings seeing then by lot iOS advertisers, their competition. to as we're supply geographies of changes, of meeting and and wide impacted and a we're a the across business shortages disruptions as headwinds that facing in of related
in successfully redeploy And Fintech, -- able done key supply terms the types Those when the they COVID they're a to verticals so hands is hit year, now, exciting. the talking chain of the that those reliant right there's really disrupted accelerate of erode may getting putting to And facing low-margin, instance, supply the somewhat challenges, into before is less categories we So, already of externality want is going on about the there momentum that macroeconomic they categories margin. customers. can an chain not But great on did into which products that's suddenly sales have are doing I'm marketing which is supply this sales of call impacted like when were the about on our the come are we that past. on number our with etc. and don't despite opportunity broad and hard seeing broadly a of to chain are product, those furthermore, on issues doubling it reliant When can were travel product like resources or that time We to resources for across We're as be marketing sweeping necessarily where chain, that And in we've things us. supporting businesses. is than successfully that entertainment. impacting streaming, are Those conditions. think for just and still back, condition sure win supply [Indiscernible] who I partners more while their macro by less this there here. last an and the one in way who our of and those down things by we product things focus
is navigate ships to through we'll We backup and the conflated in IOS business those get And with on expect everything as in plenty chains changed we're the platform, the many categories in externalities In this at underlying seeing these our this of challenges. short-term. we're with drive what changes incremental The need the cases demand to of and capacity. impact with in partners time same Los we to of of supply that IOS the the categories, learn platform are meetings the and done about. said, that and And these some just also performance advertising haven't operate have the aren't looks past. and with peak Angeles navigate show demand some in we're additional reading is as them. tests we've because that these we with take and aren't early fundamentals as good that working advertiser to to that the their they so particular, able and laser-focused this else diminished reliant But clients still just expect going been great to having we've remaining time the the test to the at
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XX%, your what an XX you're there versus of in. on just It's is? and version two it of supply [Indiscernible] how you've that way the frame XX% iOS you sense Derek, Thanks. the easy just chain? give impacting supply as next easy just is what and was a follow-up relates headwind of us chain? Is that from about XX to a question to the IDFA thinking Can IDFA to there of headwind, balance framework those XX an
the Hey, for thanks question.
the impacts expectations the QX would impacts primary the the -- about I we Those there what you majority know when is changes we you of really is quarter. -- say relative look QX that saw as the think quarter, the I moved on the impact changes headwinds through associated on with entering at in accelerated and to the iOS. our driver platform
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So persisting IOS that to contributing headwinds QX. is throughout the
therefore, shortage impact the because them supply difficult. specific labor think breakdown terms the compound you headwinds, another chain two the of one In giving of that's headwinds I on the of in the of auction, IOS half the would quarter, a which that in of the pricing between mix especially Hard on challenging. and between the expect two very and of terms we in to the impact of unfortunately, contestation, level their impacts, and the the makes delineating second see
hopefully of context bit gives little question. a to that you So your
Yes, it does. Thanks, Derek.
next Our Please from comes Sandler. question ahead. with go Tom Piper Champion
like impacted our Good more XQ. Europe it little Hi. estimates, by for and everyone. Maybe rest-of-world's was looks afternoon, to Relative revenue Derek. a headwinds in
anything then creator this case relative on the if investing here. content you behind trended this? futures as Maybe just and directly Just just you you're curious that's how how or comments if submissions quarter-over-quarter well. how quarter-over-quarter, Thank you. on to momentum And call there's do on to update anymore can usage out Spotlight doubling play into us
the question. for Thanks Sure.
benefit So, well quarters. team stages I investments we takes region, in the those in grow significant will That we resources to performance making the globally as and think longer-term. rapid continue the the on make we're marketing, healthiest and OpEx in QX partnerships, growth recent investments We're over our to are the the position can us ramping productive. of sales have it our early progress business year. of because sales our looking support is support, was for America driver headcount at we you this and see were progress, business the when across internationally, this our being hiring in that believe to and a continuing our prior in become from In North we investing team we time by in sales, to and made in but said, sales
performed to little to around you an that of about expect our in better over topline thinking but impact and the how we're I'm going the don't bit give North share a in investments on about about to little period. why product immediate a the the near-term, we bit context it more America Spotlight. engagement should relatively So, turn to Evan
Hey, really Tom. in focus we're understand ranking what that to unique infrastructure, most the just interest, of Spotlight, primary is And Spotlight who how distributed content making own compelling, seeing the most appeal sure then the can famous submit get content in own s we a and can Spotlight. are for on with question. that. understanding, most that interest. underlying to We're their the biggest in for investments content also make success, excited we huge for But audience that's Thanks their a that to want unique reach so niche creator make creator of big a say terms that to content I'd as number new the really sure not what's the audience. the people about that will across views really certainly and and recommendation, we we're that creators ensure
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evolve the it incentivize we're making So, a rewarding and way I easier for is folks infrastructure now. variety of to it is ways which also found as our submitting our again make and right to of that right lot we a are the of creator is wider new sure then critical the people. And program think content and gets piece who content, focus where that's submission, understand the the to diversity systems content we've
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call. today's Thank our question-and-answer well Inc's quarter concludes session, session. XXXX Snap This conference for attending as third you as earnings
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