Snap Inc. Receives Credit Rating Upgrade from S&P Global Ratings
S&P Global Ratings upgraded Snap’s issuer credit rating to BB- from B+ with a positive outlook, citing improved operating performance and deleveraging. The upgrade follows Q1 results showing 12% revenue growth to $1.53 billion, $286 million in free cash flow, and a narrowing net loss to $89 million.
Key figures
- Revenue
- 1530000000
- Revenue Yoy
- 12%
- Other revenue
- 285000000
- Free cash flow
- 286000000
- Adjusted ebitda
- 233000000
- Other revenue yoy
- 87%
- Operating cash flow
- 327000000
- Annualized cost savings
- 500000000
AI analysis
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