Comment with regret. “We are not satisfied with our results. This second quarter figures do not reflect our ambitionsadmits Snap CEO and co-founder Evan Spiegel. To everyone’s surprise, the company nevertheless warned in May that it would not achieve the goals set at the beginning of the year. But he did worse.
Its revenue ($1.1 billion) rose slightly between April and June, despite an 18 percent rise in daily active users to 347 million. And his net loss increased to 422 million dollars (+ 178% in one year).
There are many reasons for this poor performance. In an uncertain and inflationary macroeconomic environment, advertisers are reducing their advertising budgets. “Brands will cut costs as consumers dosums up Ben Bajarin, CEO and Principal Analyst at Creative Strategies…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.