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Snap’s revenue woes continue but earnings yield a few bright spots

Variety and Tech

26-07-2023 | 08:17

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Snap’s revenue woes continue but earnings yield a few bright spots

Snap just reported its quarterly earnings and it’s a bit of a mixed bag.

Snapchat’s parent company brought in $1.07 billion during Q2 — up from last quarter but a year-over-year dip. Snap saw its first revenue decline as a public company in Q1, marking a 7% drop in sales from the previous year. At the time, Snap CEO Evan Spiegel said that the shift did not reflect the company’s ambitions.

While revenue is trending down, Snapchat’s daily active users perked up in Q2, up 14% year-over-year to 397 million.

Read the full story at:

https://techcrunch.com/2023/07/25/snap-snapchat-q2-2023-earnings/

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