Welcome To Kaboom!

Join Today!

New Music

Snapchat Has Broken Its Revenue Record

Snapchat Has Broken Its Revenue Record

Snap Inc has posted its third quarter results and, despite going through what many had assumed was a downturn, has posted a new revenue record. The company managed to increase its revenue by 43%, raising it to $298 million overall. Although the daily active user numbers was down 1% from the previous quarter, the overall number of users grew by 5%.

Snapchat had a well documented slump in recent months, with CEO Evan Spiegel saying that this happened primarily among Android users. During the earnings call, Spiegel also noted that a potential area of growth was looking beyond the 13-34 audience in the US and the UK.