Snap's User Growth Lags Estimates as Revenues Rise, Losses Widen
In the second quarter, Snap (NYSE: SNAP) did not maintain the higher pace of user growth it enjoyed at the start of the coronavirus pandemic. As a result, the social media company fell short of its own estimates when it reported on the period after the market closed Tuesday.
Although the number of daily active users on its Snapchat app swelled by 35 million to 238 million, a 17% year-over-year increase (and 4% more than in the first quarter), that didn't quite reach management's forecast of 239 million users.
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Source Fool.com
