Snapchat saw its daily active user base jump to touch 249 million,
from 238 million in last quarter, as the company registered a 52% increase in
revenue at $679 million in its third quarter.
Snapchat
saw its daily active user base jump to touch 249 million, from 238 million in
last quarter, as the company registered a 52 per cent increase in revenue at
$679 million in its third quarter.
The stock of its
parent company Snap rose 17.1 per cent after bumper quarter results. Operating
cash flow improved by $21 million to $55 million in Q3 compared to the prior
year.
"Our focus on
delivering value for our community and advertising partners is yielding
positive results during this challenging time. We're excited about the growth
of our business in Q3 as we continue to make long-term investments in our
future," CEO Evan Spiegel said in a statement late on Tuesday.
"The adoption
of augmented
reality (AR) is happening faster than we had previously anticipated, and we
are working together as a team to execute on the many opportunities in front of
us," he added.
The average number
of Snaps created every day grew 25 per cent year-over-year.
Total daily time
spent by Snapchatters watching Shows increased by over 50 per cent
year-over-year in its third quarter.
"The daily
average number of Snapchatters in India watching Discover content increased by
nearly 50 per cent sequentially in Q3 2020," the company announced.
As of the end of
Q3, over 1.5 million Lenses have been created through Lens Studio.
"Our 'Anime
Style' Lens powered by real time machine learning was engaged with 3 billion
times in its first week," the company informed.
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