According to its data, Snapchat’s user growth is the highest in years Latest earnings report. Daily active users have increased to 293 million, an increase of 23% over the same period last year. This is Snap Inc’s best time in a while; it exceeds the best 22% of the company’s four years ago. This number even exceeds Twitter, which recently reported that the number of daily users in the second quarter was 206 million.
Total revenue also increased by 116% to US$982 million, which is the strongest growth rate to date. This is even faster than Twitter and Facebook, at least for now.
The company also said that its TikTok-like feature Spotlight has become more and more popular, which can pay users for editing. Spotlight’s daily active users increased by 49%, and the average daily submissions more than tripled.
This growth can be largely attributed to the end of the pandemic blockade and the substantial improvement of Android applications. In the previous financial report, CEO Evan Spiegel said, “As the United States began to open in late February, we saw an inflection point in key behaviors such as story publishing and interaction with Snap Map.”
In addition, Spiegel hopes that the development of an application augmented reality platform will further promote participation. “We are pleased with the progress our team has made in the development of the augmented reality platform, and we are full of vitality for the many opportunities to grow our communities and businesses around the world,” he said.
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