Digital advertising was on fire in the second quarter, judging by results from Twitter and Snap today. That implies next week’s reports from Facebook and Alphabet could be even stronger than anticipated.
Snap reported a stunning 116% top line increase, lifting its quarterly revenue to nearly $1 billion dollars. That means Snap’s growth rate has nearly tripled since early last year. Meanwhile, Twitter, usually the laggard of ad-based internet firms, posted a 79% revenue increase, its fastest rate of topline growth since 2014.