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Snap beats expectations on user growth, revenue


Snap beats expectations on user growth, revenue
The Snapchat app icon on a mobile device. Parent company Snap has seen its investments in content and creative tools pay off in 2021.
(Associated Press)
Print
Snap Inc. reported gains in revenue and users that exceeded analysts’ estimates, as the company’s investments in content and creative tools lured young people and the advertisers trying to reach them. Its shares soared.
Second-quarter sales more than doubled to $982.1 million, the company said Thursday. That dwarfed the $846.9-million average analysts’ estimate. Snapchat, the mobile app for sending disappearing messages and watching video content, had 293 million daily active users in the second quarter, beating analysts’ expectations for 290.72 million, according to data compiled by Bloomberg. ....

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Snapchat Android App Adds More Users Than Wall Street Expected


Snapchat Android App Adds More Users Than Wall Street Expected, Company Sees Revenue Growth
On page: Most of Snap’s user growth continued to come from outside North America, rising 57 percent from the prior-year quarter.
By Reuters | Updated: 23 April 2021 15:17 IST
Snap acquired Fit Analytics, a tech company that helps customers virtually determine if clothing will fit
Highlights
Snap has increasingly invested in augmented reality technology
Apple is set to begin rolling out a pop-up notification on iPhone
Snap on Thursday beat Wall Street estimates for user growth and revenue as the improved Android version of its popular messaging app Snapchat attracted more users, but growth slowed within North America. ....

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