Snap recorded its highest growth rate in number of daily active users (DAUs) and revenue in four years during Q2, gains apparently connected to the easing of Covid-19 (coronavirus) restrictions across the world.
Revenue grew 116 per cent year-on-year to $982 million, Snap’s highest growth since Q4 2017. DAUs hit 293 million, up 23 per cent and its greatest rise since Q1 2017.
Snap’s net loss declined 53 per cent to $152 million.
CEO Evan Spiegel (pictured) stated Snap’s performance reflected the “broad-based strength of our business”.
He highlighted the company’s AR platform as a key user engagement tool, explaining an average of more than 200 million interacted with the technology each day, with more than “200,000 creators using Lens Studio” to create related content.
During the period, Snap added options for users to virtually try on clothes and accessories, along with a service for users located in different places to interact with others through AR.
Other AR moves in Q2 include the purchase of Vertebrae for shopping features and the launch of its fourth generation of Spectacles smart glasses.Subscribe to our daily newsletter Back