Meta Platforms has seen a surge of over 90% in share price, indicating potential growth for rivals like Snap despite its more modest 30% increase over the same period.
In the first half of 2024, Snap's revenue jumped to $2.4 billion, an 18% increase from the previous year, signifying a turn-around from its flat performance in 2023.
Improvements to its advertising platform led to a doubling of active advertisers in Q2, crucial for generating revenue, as advertising is Snap’s primary income source.
Snap's daily active users reached 432 million in Q2, a 9% increase from the prior year, emphasizing the importance of user growth for attracting more advertisers.
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