Snapchat Has Broken Its Revenue Record

Despite going what was widely seen as a downturn.

Tech
11,336 Hypes 12 Comments

Snap Inc has posted its third quarter results and, despite going through what many had assumed was a downturn, has posted a new revenue record. The company managed to increase its revenue by 43%, raising it to $298 million USD overall. Although the daily active user numbers was down 1% from the previous quarter, the overall number of users grew by 5%.

Snapchat had a well documented slump in recent months, with CEO Evan Spiegel saying that this happened primarily among Android users. During the earnings call, Spiegel also noted that a potential area of growth was looking beyond the 13-34 audience in the US and the UK.

In other news, Facebook recently added music features to its video and photo posts.

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Source
Engadget

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