Snap revenue is a big beat, at $454 M, lifted by ecommerce ads during the pandemic as people spend more time on phones.
but DAUs slightly miss estimates, because the company thought its stay-at-home phone-obsessed trend would be more significant than it ended up being.

The company says revenue is up 32% so far this quarter compared to last year (way higher than expected) but says don't count on it lasting because so much is changing. Normal drivers of 3Q ads (movie releases! back to school! Sports!) are just not the same during a pandemic.

The Android release last year really helped boost daily active users. Users doubled in India!
Snapchat's overall DAUs are now 238 million (your quarterly reminder that despite our obsession with Twitter, Snapchat is much bigger on a DAU basis)

A subtle nod at how Snapchat may benefit from the FB ad boycott, in Spiegel's remarks:
"the growing focus on brand safety and privacy across the entire industry places us in a unique position of strength as we have invested in these areas from the beginning of our business."