Snap has focused on helping advertisers increase sales directly from Snap ads, which contributed to the company’s revenue growth at a time when many brands have been cutting marketing budgets due to the pandemic. The company has also positioned itself as a safe platform for brands to advertise on, as more than 1,000 companies have paused ads on larger rival Facebook Inc due to concerns about hate speech. Chief Financial Officer Derek Andersen said third-quarter revenue growth was 32% through July 19.
