Just like Zoom and Instagram, Snapchat serves users to communicate and self-entertain in many ways. The lockdown makes people use this kind of apps a lot while physical communication is still risky to health. However, monetization brings not much revenue to the developer since a lot of real businesses which order the ad impressions cease operating. Fortunately, delivery and software linked industries still use Snapchat’s services to advertise. The COVID-19 could not close all the businesses. It just forced entrepreneurs to adapt to the new rules of running the operations.
SNAP stock has been making significant gains since March 18 bottom of the market performance. Almost $10 is being added to the price while increasing the average volume over the total. Q1 2020 report shows decreasing revenue which is less than Q4 2019’s. The operating expense fell too but operating income is still negative. Frankly, the balance sheet looks stable that liabilities have not grown much over the past quarter reports.