Snapchat triumphs. The third quarter earnings release this week reported 249 million daily active users and $ 679 million in revenue. This is more than what analysts expected. This explains why its market capitalization soared in stride and now reaches 50 billion dollars.
Strong growth in India
The app has benefited greatly from the pandemic and lockdowns around the world. It gained 11 million users in the third quarter and a total of 20 million in 2020. That’s huge! Growth is mainly recorded outside of Europe and North America, and more specifically, in India on Android devices.
Snapchat has come a long way. 2017 and 2018 were black years for instant messaging. The company had to accept the departure of several of its leaders but also a certain disaffection of its subscribers unhappy with the overhaul or gone to Instagram. She was then subject to intense competition from the Facebook group who did not hesitate to copy what made them successful such as the Stories.