The Snapchat photo app gained 16 million daily users in the past quarter. Sales jumped 62 percent year-on-year to $ 911.3 million, while the bottom line was in the red of a good $ 113 million. In the same quarter last year, the loss was more than twice as high with 240.7 million dollars.
The share temporarily lost more than eight percent in after-hours trading on Thursday after the forecast for the current quarter disappointed investors.
At the beginning of the corona crisis, Snapchat initially had a significant boost for its business – but then missed its own sales forecast in the second quarter. Business picked up again in the second half of the year.
Open 30 times a day
The last 265 million Snapchat users opened the app an average of 30 times a day, as reported by the parent company Snap. The number of daily users increased by 47 million year-on-year.
Snapchat was best known for images that disappear on their own, but is now increasingly trying to establish itself as a platform for media content. Snap also uses so-called augmented reality, in which virtual objects on the screen are integrated into the real environment. There could be gimmicks like masks or cat ears – but also the opportunity to try on fashion items virtually, for example.
