Snap's revenue grows 19% despite North American user decline, rated buy with risks in social media shift

Snap Inc., owner of Snapchat, saw its global monthly active users grow 4% to 971 million, but North American users declined, signaling a concern. Revenue increased 19% year-over-year to nearly $1.6 billion, with improved average revenue per user and a net margin of -10%. Despite ongoing shareholder dilution from high stock-based compensation, stable gross margins and a favorable valuation make Snap a speculative buy amid a consolidating social media market. Investors should weigh the growth potential against risks in a changing industry landscape.