Snap?s Q2 earning shows another downfall
Evan Spiegel
Snapchat's user growth has declined due to the popularity of Instagram
Evan SpiegelSnapchat's second earnings call showed another downfall for the social media company.
Snapchat's user growth has declined due to the popularity of Instagram.
The recent quarterly earnings show a 4.2 per cent growth as compared to the 5 per cent growth in Q1. With an addition of 7.3 million daily active users the multimedia messaging app now holds 173 million users.
Snap lost $443 million this quarter, which is four times of $116 million that it lost in Q2 2016.
Despite facing consistent loss the company is diverting revenue in marketing and sales sector.
The slow growth rate of the company is not satisfying investors.
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However, Snapchat gained 4 million users in the lucrative North America region compared to 3 million in the last two-quarters. Also, the company is trying to monetise lower-bandwidth users. It has boosted its ARPU significantly in the rest of the world from $0.19 in Q1 to $0.29 in Q2.