Snapchat has published its Q2 earnings on August 1, 2024. It showcased improvements in both users and revenue as it continues to drive improved performance for its ad business.
The key update from this update is the number of users. The company has added 10 million more daily active users in the period. Now it stands at 432 million daily active users.
Here is the graph shared by the company.
This is a pretty impressive number as X only has 250 million daily active users. Snap has almost double the daily active users of what X has. X is more popular and more discussed among the general public.
However, one must check out the growth regions as well. Europe and North America regions are almost stagnant, while the growth is coming from the rest of the world. Europe and America have been its key market revenue markets.
Here is the revenue graph shared by Snap.
As you can see from the above charts, North America is still the key market for Snap as it is responsible for most of its revenue. However, the “rest of the word” category has also improved as it surpassed the Europe revenue.
When it comes to per-user revenue, Europe is still higher than “the rest of the world”, but the number of users in other markets is increasing the potential of the company to earn more.
In the second quarter of the year, Snap generated $1.24 billion in total revenue.
One of the key metrics shared by Snap is that it reached 850 million monthly user milestones apart from its 432 million daily active users. It is another key growth signal for the app.
Snap is seeing all-time high numbers in terms of usage in every region. It underlines the potential of Snap to connect user communities. The time spent watching content on Snap has grown by 25% year over year.
So, overall, it’s a good report for Snap. We just need to see what they will do next.
