Snap revenue, user growth slow in Q2

Nieuws Mobiel Wereld 22 JUL 2020
Snap revenue, user growth slow in Q2

Snap reported a slowdown in revenue and user growth in the second quarter, while reducing its cash burn. Snapchat had 238 million daily active users during the quarter, up 17 percent from a year earlier and around 9 million more than in Q1. 

Revenues also rose 17 percent, to USD 454 million, compared to 44 percent annual growth in the two previous quarters. The adjusted EBITDA loss widened to USD 96 million from USD 79 million a year ago, and the net loss swelled to USD 326 million from USD 255 million. 

Operating cash flow was negative 67 million, less than the cash burn of USD 96 million in Q2 2019. 

The company had withheld guidance for the period due to the uncertainty about the coronavirus pandemic. No guidance was provided for Q3 either. 

Categories:

Mobiel

Companies:

Snap,  Snapchat

Regions:

Wereld

Tags:

Messaging, Financial figures, Advertising services

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