| 6 hours ago
Snapchat parent Snap Inc. released its second-quarter-2019 financial results earlier this week.
Following are eight highlights from the company’s earnings call.
Daily active users
Snapchat had 203 million DAUs at the end of the second quarter of 2019, up from 190 million at the end of the first quarter and 188 million in the year-earlier period.
The company said DAUs rose sequentially and year-over-year in North America, Europe and the rest of the world, as well as on both iOS and Android platforms.
Co-founder and CEO Evan Spiegel said during Snap’s earnings call, “Today, more than 75% of the 13- through 34-year-old population in the U.S. is active on Snapchat, making us larger than services like Facebook and Instagram among this audience, and demonstrating the broad-based appeal of our service.”
He continued, “We have also observed that communicating visually with real friends on Snapchat provides long-term value for our community. For example, Snapchatters in the U.S. who joined five years ago and were active at the end of their first year have retained at more than a 95% annualized rate. We believe this high retention rate underscores the important role Snapchat plays in the lives of the people who use our products.”
Snap said its audience watching content on its Discover platform daily is up 35% year-over-year, and total time spent per day watching Discover is up 60% over the same time period.
Total daily time spent watching Shows—the platform’s premium
Read more here: https://www.adweek.com/digital/8-highlights-from-snap-inc-s-q2-2019-financial-results/