Snapchat Users Climb 17% in Q2, Snap Stock Falls as Investors Hoped for Bigger Lift

boosted its daily active user rolls with a hefty gain of 9 million in the second quarter of 2020, as the company grew revenue 17% year over year to beat analyst expectations.

For Q2, Snap reported an average of 238 million daily active users, up 17% year-over-year and a net gain of 9 million for the period . That came after itThe company touted growth on its original entertainment strategy, reporting the daily average number of users watching Snapchat Shows in the app increased by more than 45% year-over-year in Q2 .

Snap’s second-quarter 2020 revenue increased 17% year-over-year to $454 million, while the company saw its net loss widen to $326 million versus a net loss of $254 in the year-ago quarter.

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