For the first time, Snap experiences a drop in its user numbers. But that did not stop the company from registering solid growth in revenues.
In the three months ending June, Snapchat’s number of daily users was -2% less compared to the previous quarter. At 188 million daily active users, the social networking platform fell short of analysts' expectations of about 193 million.
However, revenues surged +44% on a year-over-year basis to reach $262 million for Snap (parent company of Snapchat), while loss per share was lower than expected.