The coronavirus pandemic fueled strong second quarter revenue for Snapchat owner Snap but didn't lift the company's user base as much as it did the previous quarter.
The company on Tuesday reported second quarter revenue of $454 million, up 17 percent compared with the same period last year, a sign that advertising on the platform was strong in spite of the shutdown's earlier disruption of the marketing industry.
The company recorded a net loss of 23 cents per share. Snapchat's base of daily active users grew 17 percent year-over-year to 238 million.
It represented sequential quarterly growth of 9 million and was lower than the 239 million that analysts were expecting. Snap's stock, which closed the day down around 2 percent, was trading.
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