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Q3 Ad Revenue Results: Forecast of Snap and Facebook

July 24, 2020 / Susan Wenograd

Despite healthy growth due to the Covid quarantine, signs are pointing to a bumpy Q3 for Snap. All eyes are also on Facebook for their Q3 report. Snap had a nice 17% revenue bump in Q2, fueled by the stay-at-home orders during the Covid-19 outbreak. Despite this, they are tempering expectations for continued growth in Q3. Their caution is something that is likely to be reflected across all platforms as the Coronavirus drags on. Q3 also had a very bullish start in daily active users initially, but the number dropped as society reopened. Based on their commentary, it also sounds as though the type of decline observed wasn’t anticipated. This decline has led to Snap’s caution about expected daily active user (DAU) growth for third quarter. They are projecting a DAU increase to somewhere between 242m to 244m.