When it comes to the key metric of average revenue per user (ARPU), Snap still has some way to go. Having just posted very disappointing Q3 , the social media firm is still yet to prove it can sustain significant user growth and convert it into all-important profit. Like Facebook, Snap is very much reliant on ad revenue generated from its users and in Q3 2017, global ARPU was $1.17. For context, Facebook was pulling in $1.54 (32% more) nine months after its IPO and now boasts a global average of $5.07. With user growth slowing, Snap may need to rely on an equally impressive increase in ARPU if it is to survive.
Q3 Results
Snap's Post-IPO Revenue Per User In Context

Description
This chart compares the global average revenue per user for Snap and Facebook before and after their respective IPO's.




















