Social Media MarketingSnapchat signed very good results in the last quarter of 2020
In the last quarter of 2020, Snapchat managed to add 16 million daily users to its ranks and increase its turnover by 62%.
For many companies, the coronavirus pandemic is becoming a real drain from a sales and profit point of view. But other companies, particularly those that operate in the digital economy arena, are making huge money thanks to COVID-19, which is boosting, after all, the time invested by the user in the network of networks. This is the case, for example, of Snapchat, which in the last quarter of 2020 managed to add 16 million daily users to its ranks.
In the period between October and December of last year, the turnover of the social network hit a stride of 62% to reach 911.3 million dollars, although the company carried losses of 113 million dollars. Even so, in the same quarter of last year the losses generated by Snapchat were substantially higher, of 240.7 million dollars.
Despite the promising results put on the table by Snapchat, shares of the social network plummeted more than 8% in the stock markets because the company’s predictions for the first quarter of 2021 disappointed investors.
Snapchat added 47 million new daily users in the last year
At the beginning of the Snap coronavirus crisis, Snapchat’s parent was able to significantly boost its business, but was later unable to meet the targets set for the second quarter of the year, although during the second half of 2020 their numbers soared again.
According to Snap, Snapchat’s 265 million daily users connect to the social network an average of 30 times a day. The number of daily users of the social network increased by 47 million during the last year.
Snapchat originally owed its popularity to content of a fleeting nature, but is currently trying to establish itself as a platform focused on media content.
The social network also makes extensive use of augmented reality in the form of filters that allow virtual objects to be integrated into the real world, which is very useful not only to show off the typical and funny rabbit ears but also to try on clothes virtually.
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