This was indeed another quite good result!
If one has to look for weaknesses, the US daily active users in particular grew a bit sluggishly again. On the other hand, overall user numbers grew quite well compared to the last quarter (even though the pace slowed down slightly again), e.g., global weekly unique visitors were up about 4.6%.
There was a lot of good here:
- Revenue and ARPU growth was good (even though advertising is still in its early stages). For example, revenue was already over 50% higher than in Q4/24 (the best quarter for advertising).
- Revenue did drop compared to the previous quarter (since Q4 is usually always the biggest for advertising), but in almost the same proportion as Q4/24 vs Q1/25, even though we are now at much higher revenue figures.
As I see it, the big picture remains unchanged: the train keeps moving forward and the success of the ad platform remains in a key role as long as user growth continues (or preferably even accelerates slightly).