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Parent company Snapchat makes more loss

Parent company Snapchat makes more loss

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Snap, the parent company of Snapchat, has in the past quarter 443 million dollar (376,3 million euro) loss. That is considerably more than a year earlier, when the loss amounted to 116 million dollars.

This is evident from the quarterly figures that Snap on Thursday published.

The turnover of Snap was in the last three months of 181 million dollars (153,7 million euros). That is an increase of 53 percent compared with the same period last year.

The loss equates to 0.16 on the dollar (eur 0.14) per share. Analysts had a higher revenue of 186.2 million dollar expected, with a loss of 0.14 dollars per share.

Users

The number of daily users of Snapchat in the second quarter of this year increased. That there are now 173 million, 21 percent more than in the same period in 2016. Relative to a quarter earlier, the number of daily active users increased by 4 percent. The growth is lower than in the first quarter, when the number of daily active users have increased by 5 percent.

Per user took a Snap an average of 1.05 dollar (89 cents) on sales, compared to 50 cents in the second quarter of 2016. In the first three months of this year was the average revenue per user, 90 cents.

Investors said earlier that the number of daily active users to at least 171 million wanted to see rise, reports TechCrunch. Also, they hoped, at an average revenue per user of more than 1,05 dollar.

Competition

Snap has over the past months a considerable decline experienced in the stock market. The price per share fell from almost 23 dollars to about 18 dollars.

The competition also allows for a lower price per share. Both Instagram Stories as WhatsApp Status now has 250 million users. The clone of Snapchat Stories are therefore much larger than Snapchat as a whole.

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