NewsSnapchat gains 16 million users

Snapchat gains 16 million users

Snapchat’s business continues to do well in the corona pandemic – but Apple’s new data protection measures could slow down advertising revenues.

The Snapchat photo app gained 16 million daily users in the past quarter. Sales jumped 62 percent year-on-year to $ 911.3 million (EUR 759.8 million), while the bottom line was that there were red numbers of a good $ 113 million. In the same quarter last year, the loss was more than twice as high with 240.7 million dollars.

Conciliatory

The stock temporarily lost more than eight percent in after-hours trading on Thursday after the forecast for the current quarter had disappointed investors. Co-founder and boss Evan Spiegel pointed out, among other things, that the effects of the planned data protection measures by Apple on the advertising business of Snapchat are still difficult to predict.

Apple will soon let the users of its iPhones and iPads decide whether they want to allow their behavior to be tracked across different apps and services for advertising purposes (tracking opt-in). Facebook boss Mark Zuckerberg recently criticized the plans sharply and accused Apple of unfair competition. Spiegel held back with criticism and spoke of an “opportunity to work with partners and Apple”. The users deserved to be protected.

Back and forth

At the beginning of the Corona crisis, Snap initially saw a significant boost for its business – but then missed its own sales forecast in the second quarter. Business picked up again in the second half of the year. The last 265 million Snapchat users opened the app an average of 30 times a day, as the parent company Snap reported. The number of daily users increased by 47 million year-on-year.

Snapchat was best known for images that disappear on their own, but is now increasingly trying to establish itself as a platform for media content. Snap also relies on Augmented Reality (AR), in which virtual objects on the screen are integrated into the real environment. There could be gimmicks like masks or cat ears – but also the possibility of trying on fashion items virtually, for example. The number of advertisers doubled within a year.

Florent Malice
Florent Malicehttps://www.newsalarms.com/
Florent is a passionate blockchain enthusiast, dedicated to exploring the intersection of technology and finance. With a focus on blockchain, web crypto, and NFTs, he contributes insightful analyses and updates to NewsAlarms, offering clarity on the evolving landscape of digital assets.

Latest news

World AI Show Wraps Up Landmark Indonesia Edition, Announces 46th Global Edition in Kuala Lumpur, Malaysia

World AI Show Indonesia concludes with high-level dialogues, government and industry engagement on artificial intelligence innovation as Trescon names...

SenturoPay Goes Live with All-in-One Crypto Spend App and Card Solution

Launch introduces a streamlined platform where users can send, spend, and manage crypto instantly—without friction or delay. The wait for...

Nitin Bhatnagar Urges Industry to Prioritise Purpose-Driven Design and Sustainable Living

Dubai, UAE, 10th July 2025, ZEX PR WIRE, In a newly released interview, Dubai-based entrepreneur Nitin Bhatnagar has called...

Brian Gould of TruLife Distribution: “AI‑Custom Nutrition Is Here – But Has Your Supply Chain Kept Up?”

Flordia, US, 10th July 2025, ZEX PR WIRE, AI-powered personalized nutrition tools are gaining mainstream traction in 2025. Based...

Web V8: Australia’s Fastest-Growing Web Design Agency That Puts Speed, Substance, and Small Business First

Parramatta, NSW, 10th July 2025, ZEX PR WIRE, In a market flooded with templated websites, offshore developers, and long...

Locksmith Solutions Introduces Next-Generation Security Upgrades for the Homes and Businesses

New Smart Access Controls and High-Security Systems Now Available for Las Vegas Residents and Businesses. Las Vegas, NV, 10th July...

Must read

SenturoPay Goes Live with All-in-One Crypto Spend App and Card Solution

Launch introduces a streamlined platform where users can send,...

MFEV Marathon Success in Serbia: Celebrating Runners, Community, and Charity

MFEV proudly announces the successful conclusion of the MFEV...

Top Cryptos Under $1 to Buy in 2024: Invest Now!

Top Cryptocurrencies to Consider for 2024: Best Picks for...

Must-Grab Crypto Airdrops This August 2024

Get Ready for Exciting Upcoming Crypto Airdrops! Prepare yourself for...

Trending Now: The 5 Best Tap-To-Earn Games Across the Globe

Earn Crypto with These Top 5 Tap-to-Earn Telegram Games The...

You might also like
Recommended to you