Snap's revenue increased to $454.2 million during the quarter, above estimates of $440.8 million
Snap Inc said on Tuesday a bump in user growth at the start of coronavirus-led lockdowns petered out sooner than expected, and it forecast fewer current-quarter users than the Wall Street consensus.The Snapchat owner said daily active users , a widely watched metric by investors and advertisers, rose 17% to 238 million in the second quarter ended June 30. Analysts had expected 238.44 million, according to IBES data from Refinitiv.
“The growing focus on brand safety and privacy across the entire industry places us in a unique position of strength as we have invested in these areas from the beginning of our business,” Snap Chief Executive Evan Spiegel said during an earnings call with analysts. Revenue from ad sales jumped about 17% to $454.2 million during the quarter, above estimates of $440.8 million.
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