Snap Reports User Growth But Continues To Struggle With Falling Revenue And Profits

Snap's daily active users grew 14% to 397 million in Q2 2022, primarily driven by international growth.
Snap reported a 4% year-over-year decline in revenue in Q2 2022, marking its second consecutive quarter of falling sales.
The company posted a net loss of $377 million in Q2, its sixth consecutive quarterly loss.
Snap is facing challenges competing with larger platforms like TikTok and attracting advertisers to its platform.
The company aims to increase revenue by improving its ad platform, investing in products, and finding new revenue sources.