Snapchat recorded a total revenue of $262 million for the second quarter of 2018, an increase of 44 per cent year-over-year and 14 per cent sequentially. International countries represented 32 per cent of total revenue, up from 19 per cent in Q2 2017 and 26 per cent in Q1 2018.
The company’s Daily Active Users (DAU) increased eight per cent to 188 million in Q2 2018, compared to 173 million in Q2 2017, and decreased two per cent in Q2 2018, compared to 191 million in Q1 2018.
“We are excited by the progress we have been making and are optimistic about the opportunities ahead as we continue to invest in innovation. I’m really excited about the progress we’ve been making at Snap, and optimistic about the opportunities ahead as we continue to improve our team, reinforce our culture and invest in innovation. We have focused a lot of our time and effort this past year on developing our team, culture and leadership that we need to rapidly scale our business,” said Evan Spiegel, Snap CEO and Co-Founder.
Snap’s advertising revenue for Q2 2018 was $260 million, an increase of 48 per cent year-over-year and 14 per cent sequentially, driven by traction in our global online sales business, which includes SMBs and sales partners and strong growth in international countries.
“Our team is passionate about our mission to contribute to human progress by empowering people to express themselves within the moment, learn about the world and have fun together. And we’ve redesigned our performance management processes to incorporate our values of being kind, smart and creative,” Mr Spiegel added.