Snapchat’s parent company Snap published its latest financial results yesterday, for the third quarter of 2021. The app saw its daily active users grow by 23% year-on-year to 306 million in Q3, while its revenues grew by 57% to $1.07bn.
Profits? Pfft. Snap reported an operating loss of $180.8m for the quarter, compared to $167.8m this time last year.
However, CEO Evan Spiegel talked up Snap’s resilience in the face of various obstacles to its advertising growth in particular. “We’re now operating at the scale necessary to navigate significant headwinds, including changes to the iOS platform that impact the way advertising is targeted, measured, and optimised, as well as global supply chain issues and labor shortages impacting our partners,” he said in a statement.
Spiegel later told analysts that Apple’s iOS changes had been a key reason why Snap’s revenues came in $3m short of its guidance for the quarter, but that he still supports the wider privacy aims behind them.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…