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7/22, 10:17 PM (Source: TeleTrader)
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Snap Q2 revenue up 116% to $982M YoY

Snap Inc reported its financial results on Thursday for the fiscal second quarter of 2021, ending June 30, marking a 116% increase in revenue to $982.1 million compared to the same period 12 months ago. Meanwhile, net loss improved by 53% year-on-year to a total loss of $151.7 million. Diluted net loss per share grew by 56% to $0.10 since a comparable period of 2020.

The number of daily active users added 55 million in the second quarter, or 23% compared to the same three-month period of last year, to a total of 293 million users. The increase has been reported sequentially and year-over-year in each of North America, Europe and the rest of the world, as well as on iOS and Android platforms.

"Our second-quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years. We are pleased by the progress our team is making with the development of our augmented reality platform, and we are energized by the many opportunities to grow our community and business around the world," said Evan Spiegel, the CEO of Snap Inc.

Breaking the News / LH