Snapchat Added 11M ‘Daily Active Users’ in Q1 After Pandemic’s Onset
As the global pandemic hit, Snapchat added 11 million “daily active users” in Q1 for a total of 229 million, up 5% sequentially and 20% increase from Q1 2019, said Snap CEO Evan Spiegel on a Tuesday investor call. "We…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
experienced high revenue growth rates in the first two months of the quarter, which offset our lower growth in March." It’s difficult to predict the “near-term impact of this unprecedented complex and global pandemic on our business,” said Spiegel. “Long-term indicators” are positive, he said: Financial recovery “may be very fast for some businesses and much slower for others.” The stock soared 36.7% higher Wednesday, closing at $17.01.