but didn't lift the company's user base as much as it did the previous quarter.
The company on Tuesday reported second quarter revenue of $454 million, up 17 percent compared with the same period last year, a sign that advertising on the platform was strong in spite of the shutdown's earlier disruption of the marketing industry. The company recorded a net loss of 23 cents per share.
Snapchat's base of daily active users grew 17 percent year-over-year to 238 million. It represented sequential quarterly growth of 9 million and a slightly slower growth rate than the previous period. Snap's stock, which closed the day down around 2 percent, was trading down as much as 9 percent immediately following its earnings release on the softer-than-expected subscriber growth.
"We continued to grow our community and business in a challenging and uncertain environment," CEO Evan Spiegel said in a statement. "I am proud of our team for innovating on new experiences for our community and driving value for our partners, demonstrating the importance of our service in people's lives. We are grateful that the resilience of our business has allowed us to remain focused on our future growth and opportunity.
is that guy snap?
thought it was obsolete lmao
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