Breaking News

G-SHOCK Launches the MRG-B2000BG-3A CORSAIR Introduces the FRAME 4500x with Wraparound Panoramic Glass for Showstopper PC Builds DJI Launches Osmo Nano MediaTek announces Dimensity 9500 ASUS Announces Turbo Radeon AI Pro R9700 32GB Graphics Card

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Coronavirus Boost Snapchat Use, Company's Revenue

Coronavirus Boost Snapchat Use, Company's Revenue

Enterprise & IT Apr 22,2020 0

Snap Inc. on Tuesday reported high quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the coronavirus pandemic.

“We are grateful for the opportunity to serve our community and partners during this difficult time,” said Evan Spiegel, CEO. “Snapchat is helping people stay close to their friends and family while they are separated physically, and I am proud of our team for overcoming the many challenges of working from home during this time while we continue to grow our business and support those who are impacted by COVID-19.”

Snapchat said it saw a jump in usage in the last week of March compared with the end of January. Usage also increased for Snapchat’s original content and in-app games.

Daily active users (DAU) on Snapchat rose 20% to 229 million in the first quarter ended March 31, compared with a year earlier. The figure stood at 218 million in the fourth quarter.

Revenue, which Snap earns mainly by selling advertising on the app, increased 44% from a year earlier to $462.47 million. The company said higher revenue in the first two months of the quarter offset lower growth in March, when advertisers began to tighten marketing budgets as non-essential stores closed amid the pandemic.

So-called “direct response” advertisers, or those seeking to increase sales through their ads rather than name recognition, were a bright spot, said Evan Spiegel, chief executive of Snap, during a conference call with analysts. Direct response advertising is now more than half of Snap’s total revenue.

The company said it would shift resources on its sales team to serve advertisers in industries like gaming, home entertainment and consumer packaged goods, which are expected to see higher demand from people stuck at home.

Average revenue per user in the first quarter was $2.02, up from $1.68 in the prior year.

Snap’s net loss declined slightly to $305.9 million, from $310.4 million a year earlier.

Tags: SnapSnapchatfinance
Previous Post
Netflix Saw Increased Signups in March
Next Post
Samsung Page Reveals Unknown Galaxy Smartphone, Possibly The Galaxy Note 20

Related Posts

  • SoftBank Reports $18 Billion Loss from Vision Fund

  • Panasonic Annual Profit Decreased, Tesla Battery Venture Brings Gains

  • Sony's Q4 Profit Dropped 57% on Low Image Sensor Sales

  • Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

  • Roku Says Ad Sales Growth is Slowing, Platform Sees Growth

  • Snap New Spin on Painting With Damien Hirst Lens

  • Amazon Could Report Loss in Q2 As a Result of COVID-19-related Costs

  • Apple Reports High Sales Despite Coronavirus, Future Uncertainties Remain

Latest News

G-SHOCK Launches the MRG-B2000BG-3A
Consumer Electronics

G-SHOCK Launches the MRG-B2000BG-3A

CORSAIR Introduces the FRAME 4500x with Wraparound Panoramic Glass for Showstopper PC Builds
Cooling Systems

CORSAIR Introduces the FRAME 4500x with Wraparound Panoramic Glass for Showstopper PC Builds

DJI Launches Osmo Nano
Consumer Electronics

DJI Launches Osmo Nano

MediaTek announces Dimensity 9500
Smartphones

MediaTek announces Dimensity 9500

ASUS Announces Turbo Radeon AI Pro R9700 32GB Graphics Card
GPUs

ASUS Announces Turbo Radeon AI Pro R9700 32GB Graphics Card

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

be quiet! Pure Base 501

be quiet! Pure Base 501

Soundpeats Pop Clip

Soundpeats Pop Clip

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed