Snapchat is enjoying the highest user growth in years, according to him latest earnings report. The daily number of active users increased to 293 million, which is an increase of 23 percent compared to this time last year. That’s the best Snap Inc. has seen lately; it reached the company’s highest ranking of 22 percent, which happened four years ago. The number even exceeds Twitter, which recently reported 206 million daily users in the second quarter.
Total revenue also rose by a very impressive 116 percent to $ 982 million, its strongest growth rate to date. It’s faster than even Twitter and Facebook, at least for now.
The company also said that Spotlight, its TikTok-like feature that pays users for clips, has grown in popularity. The daily number of active Spotlight users increased by 49 percent, and average daily content intakes more than tripled.
Much of this growth can be attributed to the end of the pandemic, as well as a significantly improved Android app. In a previous earnings statement, CEO Evan Spiegel said that “as things began to open up in the United States in late February, we saw milestones in key behaviors like publishing the Story and engaging on the Snap Map.”
In addition, Spiegel hopes that the development of an augmented reality application platform will further encourage engagement. “We are pleased with the progress our team is making by developing our augmented reality platform, and we are energized by the many opportunities for our community and business growth around the world,” he said.
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