Snapchat’s parent company Snap published its latest quarterly financial results yesterday, revealing another jump in its daily active users total. At the end of March, Snapchat had 229 million daily active users, up by 20% year-on-year, having added 11 million in the first three months of this year.
“On average, more than 4 billion snaps were created each day in Q1 2020,” reported the company. More than 75% of its daily active users “engage with augmented reality every day on average” too, while Snapchat’s Discover feature and its original video shows also continue to grow. “In Q1 2020, over 60 Shows reached a monthly audience of over 10 million viewers, up from 50 Shows in Q4 2019,” claimed Snap.
How is all this translating into financials though? Well, Snap’s revenue grew by 44% year-on-year to $462.5m in the first quarter of 2020. However, its net loss only narrowed slightly, from $310.4m in Q1 2019 to $305.9m in Q1 2020.
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