Snap beats user, revenue estimates with highest growth in 4 years

snap beats user revenue estimates with highest growth in 4 years

Sumary of Snap beats user, revenue estimates with highest growth in 4 years:

  • N) on Thursday beat Wall Street estimates for users and revenue in the second quarter, notching the highest growth rates since late 2017 as new features on its messaging app Snapchat attracted more users.
  • Snapchat, known for its Stories feature that lets users post updates that disappear after 24 hours, has grown its app into five parts spanning media content and viral short-form video clips to keep users engaged and draw in more advertisers.
  • Daily active users rose 23% to 293 million during the quarter ended June 30, above analysts’ estimates of 290.3 million, according to IBES data from Refinitiv.

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