Snapchat’s Q2 2020 revenue grew 17% YoY to reach $454 million

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 22, 2020, 2:59 AM GMT+0

Snapchat’s direct response business attracts more advertisers.

This article informs that Snapchat’s Q2 2020 revenue has grown 17% YoY to reach $454 million. Its daily users increased 17% YoY to 238 million, against the 239 million predicted by the company. However, projections for Snapchat’s daily average users (DAUs) are conservative for Q3 with a projection between 242 and 244 million.

The revenue growth rate for Snapchat Q3 2020 could level out at approximately 20%. Derek Andersen, CFO at Snapchat, says the company is “conscious that operating conditions remain volatile and that economic conditions could further deteriorate”.

However, the number of active advertisers has been the highest on the platform in Q2, as per Jeremi Gorman, Snapchat’s chief business officer. Also, Facebook’s boycott and the emphasis on brand-safe and transparent environments will allow Snapchat to approach marketers to discuss spending.

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