Snap's revenue grew 62% to $911 million, easily beating Wall Street expectations.Visit the Business section of Insider for more stories - Snap Inc, owner of popular photo-messaging app Snapchat, on Thursday beat analysts' estimates for both user growth and revenue as the coronavirus pandemic prompted more people to use the app to connect with friends.
The app made the biggest gains in regions outside North America and Europe, with 55% growth in daily active users. Advertisers have been drawn to Snap's large base of young users, and the company has invested in developing features that appeal to brands including Snap Map, which lets users find local businesses near them.
Snap's net loss narrowed to $113 million, or 8 cents per share, from $240.7 million, or 17 cents per share, a year earlier.