The social company reported $982 million in revenue for the second quarter of 2021.
Snap, the parent company of Snapchat, on Thursday reported a 116 percent increase in revenue in its second quarter and a 23 percent increase in daily active users.
The company made $982 million in Q2 and has reached 293 million daily active users, according to a report released ahead of Snap’s earnings call. The company also decreased its net loss to $152 million, compared to $326 million in the previous year.
“Our second quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” Evan Spiegel, Snap’s CEO, said in a statement. “We are pleased by the progress our team is making with the development of our augmented reality platform, and we are energized by the many opportunities to grow our community and business around the world.”