Snap Inc, the parent company of Snapchat, has announced the financial earnings of the second quarter that ended on June 30, bringing a mixed bag of results for the company. Snap Inc’s revenue increased 44 percent to $262 million in the second quarter of 2018, compared to the revenue of $182 million in the same quarter last year. The company’s net loss decreased 20 percent to $353 million as compared to a net loss of $443 million last year. Most importantly Snapchat’s daily active user (DAU) base shrank by three million people in Q2 2018. This is the first time ever that the company has reported a decline in its user base.
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