Social Media

Snapchat shares skyrocket after all-time high on earnings

Snapchat shares rose more than 25% in after-hours trading after the company posted huge revenue stats for Q3 2020. Their expected revenue was around $555 million whereas the reported stats show a revenue of $679 which is a 52% year-over-year (YoY) increase. The shares rose from $28 per share to approximately $35 per share.

That is not the only thing that rose exponentially for Snapchat. Their daily active users, or DAU as they call it, showed an 18% YoY increase with 249 million users. That is more than a 39 million user increase over the same quarter last year.

The Average Revenue Per User (ARPU) also showed a good 28% YoY increase in this quarter. The company still posted a net loss of a staggering $200 million but that is still lower compared to the $227 million loss it incurred in Q3 2019.

This is to be expected as Snapchat is continuously adding more features to the app making it popular amongst Gen Z. A survey even showed that using Snapchat helps to improve your mood and may leave you happier than before. As compared to other social media apps, the top attribute index of Snapchat showed qualities like silliness, creativity, excitement, and happiness.

Image Source: Buffer

Sponsored
Talha Ikram

Share
Published by
Talha Ikram

Recent Posts

Google Play Store to Introduce Alerts for Low-Quality Apps

The Google Play Store is currently working on a new feature that is designed to…

29 mins ago

Punjab Announces Winter Vacations Starting December 20

LAHORE: Khalid Nazir Wattoo, Punjab's Secretary for Schools, announced on Monday that the winter break…

29 mins ago

NCERT Advisory Warns of Konfety Group Targeting Android Users with Malicious Apps

The National Computer Emergency Response Team (nCERT) has issued an advisory to Android users worldwide…

1 hour ago

Pakistan Stock Exchange Hits 99,000 Points Once Again

Pakistan's benchmark KSE-100 index made a strong recovery on Monday, surging by nearly 1,200 points…

2 hours ago

Australia Introduces World’s Strictest Social Media Ban for Under-16s

Australia's government is moving to implement some of the world’s strictest social media regulations. The…

2 hours ago

 Punjab Takes Action Against Pollution with 30 New Air Quality Monitors

30 state-of-the-art air quality monitors were installed in Lahore and other major cities across Punjab…

3 hours ago