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Coronavirus latest: UK adds India to travel ‘red list’ as cases surge
Snap’s chief executive Evan Spiegel said that the easing of coronavirus lockdowns would boost engagement on his platform as users increasingly co-ordinate socialising, as the company posted bumper first quarter results.
Sales at Snap, the parent of messaging app Snapchat, rose 66 per cent year on year to $770m in the first quarter of last year, beating analyst expectations of $742m, it said on Thursday. Daily active users reached 280m, up 22 per cent.
“We are optimistic about the engagement trends we are seeing as the world is beginning to open up,” Spiegel said, adding that as restrictions eased in the US in February, the company saw “inflection points” with users posting short video-clip “Stories” about their lives and using its Snap Map feature to share their whereabouts and activities.
“More recently, we saw a rise in the rate of new friendships and…
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