Key Takeaways from Snap Inc. Q2 2020 Earnings Report

Snap Q2 2020 Report

Here are the highlights from Snap Inc Q2 2020 Earnings Report that would aid brands and advertisers with notable updates.

Pointers to be noted from the Snap Inc Q2 2020 Earnings Report include, increase the daily active users, new innovations on the platform, new introductions for brands and advertisers, and more.

  • Revenue increased 17% YoY to $454 million. The average revenue per user remained flat YoY at $1.91
  • DAUs were 238 million in Q2 2020, an increase of 35 million or 17% year-over-year. On average, Snapchatters opened Snapchat over 30 times every day in Q2 2020
  • The daily average number of Snapchatters watching Shows increased by over 45% year-over-year in Q2 2020
  • Snapchat launched Happening Now, a dedicated feed on Discover providing real-time, curated news from media partners such as The Washington Post, ESPN, and BuzzFeed
  • On average, over 180 million Snapchatters engaged with augmented reality daily in Q2 2020

Also Read: Snap Partner Summit 2020: New Features, AR experiences & more

  • Snapchat has announced Voice Scan – enables users to activate AR Lenses with their voice, Local Lenses – AR experiences around the world, Lens Explorer – enables users to add songs to their Lenses, and Dynamic Lenses – enables developers to bring real-time information from their app into Snapchat Lenses
  • Snapchat introduced Brand Profiles – a permanent home for brands, First Commercial – initial Commercial user sees that day in their first Snapchat show session, Snap Minis, bite-sized utilities, content bundles in Snap Select – enables brands to align their message with popular verticals like Sports, Entertainment, and News
  • Snapchat has enabled app and web attribution for Commercials to help advertisers understand the impact that video on Snapchat has on any business
  • Snap Focus, an online learning portal where advertisers can learn more about Snapchat’s advertising solutions, has been launched

View the Earnings Report in detail here.