PR NEWSWIRE – May 1 – Total revenues decreased 40% YOY to $3.5M. Net loss was $0.3M, compared with a net loss of $3M in Q1 2012. "Our results reflect a significant decrease in advertising and marketing spend from the comparable period in 2012, which primarily affects new user acquisition. We began to decrease our user acquisition costs during the second quarter of 2012 as we focused on redesigning and re-launching our AYI product", said Jon D. Pedersen, Sr., SNAP's CFO.
The full article was originally published at IT News Online, but is no longer available.
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