Snap adds more users, still misses quarterly revenue estimates
Snapchat has only 0.5% of worldwide digital ad revenue, while Facebook accounts for 21.1%, according to a report by market researcher eMarketer.
Snapchat’s DAU, representing the number of people using the app on a daily basis and a widely watched metric by investors and advertisers, was above analysts’ average estimate of 215.04 million, according to IBES data from Refinitiv.“Given the substantial long-term opportunities ahead, we are working hard to scale our revenue so that we are able to self-fund our investments in the future,” Chief Executive Officer Evan Spiegel said in prepared remarks.
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