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Snap Posts Record Revenue as Snapchat Adds 13 Million Users in Q2

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thewrap.com
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acquired augmented reality startup WaveOptics for $500 million in May. Around the same time, Snap also shared it had reached 500 million monthly users and was now used by 90% of Americans between the age of 13-24.

On Thursday, Snap reported its net loss decreased from $326 million at this point last year to $152 million by the end of Q2 — a drop of 53% year-over-year.

Looking ahead, Snap projected it would add 8 million users during Q3 — pushing the company to 301 million DAUs, if that goal is reached — and that its revenue would increase 58% to 60%..

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