Snapchat managed to significantly beat expectations in its latest quarterly report. One reduced the loss and as a result the share opened today clearly in the plus (currently +20.14 percent).
The social network saw a strong influx in the second quarter – which also caused revenues to rise sharply. The number of daily active users increased 23 percent year-on-year to 293 million in the three months to the end of June, Snapchat said on Thursday after the US stock market closed. This means that the app achieved the strongest growth within the last four years.
Revenues increased by 116 percent to 982 million dollars (834 million euros). Still, Snap made a loss of just under $152 million, but narrowed its year-over-year loss by a significant 53 percent.
The fact is that expectations were clearly exceeded and the share price is currently reacting accordingly.
