The coronavirus pandemic fueled strong second quarter revenue for Snapchat owner Snap but didn't lift the company's user base as much as it did the previous quarter.
The company on Tuesday reported second quarter revenue of $454 million, up 17 percent compared with the same period last year, a sign that advertising on the platform was strong in spite of the shutdown's earlier disruption of the marketing industry.
The company recorded a net loss of 23 cents per share. Snapchat's base of daily active users grew 17 percent year-over-year to 238 million.
It represented sequential quarterly growth of 9 million and was lower than the 239 million that analysts were expecting. Snap's stock, which closed the day down around 2 percent, was trading.
Read more on hollywoodreporter.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.