Snapchat loses 443 million dollars due to the Instagram competition

Snapchat published its financial results, which showed a clear decline due to competition from Instagram. Snapchat posted total revenues of $ 181.5 million in the second quarter, lower than analysts’ expectations, and the company’s net loss was $ 443 million.

Compared to the previous quarter’s losses, we find four times its losses in the same quarter last year. Even the growth rate of users was not the same as the company added 7.3 million new active users this quarter to reach 173 million active users a day, and within a year added 30 million active users.

Snapchat users are distributed among 75 million users from North America, 57 million from Europe and the remaining 42 million from the rest of the world.

The company said that the average user publishes 20 pairs a day, and there are 250 million serfs saved in memories daily.

Of course, most of Snap’s revenue is from Snapchat, but it has some other revenue, such as selling less than 42,000 glasses for $ 5.4 million.




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