Snap Inc. (SNAP) said Wednesday that its direct revenue business has exceeded a $1B annualized revenue run rate and its global subscription community has now surpassed 25M members.
Shares of the company are up 4% in midday trading.
The company said Snapchat now has 946M monthly active users worldwide and is on a path toward reaching “one billion people globally.”
“Looking ahead, we’re continuing to grow Snapchat+ with ongoing investment in customization and community-driven features,” the company said.
