Snapchat’s UK arm has reported a pre-tax loss of $757.7 million (£565.8m) for 2024, despite revenue surging past $2 billion, according to newly filed accounts.

The social media giant’s losses narrowed from the $1bn posted the previous year as advertising growth and optimisation efficiencies boosted performance.

Snapchat said the revenue rise was driven by higher advertiser demand and improvements in auction-based advertising.

The number of UK employees fell from 437 to 395 during the year, while parent company Snap Inc also reduced its global net loss to $698m on revenue of $5.3bn.