Snap reverses user decline with modest first-quarter bounce back
Snapchat has started 2019 on a high note after stemming recent user declines to post a modest increase of 4 million users over the first quarter to reach 190 million daily users.
While still below the network's all-time high of 191 million, posted a year ago, the figures will provide a welcome boost for the business which was locked in stagnation after a contentious redesign last year turned off many.
Perhaps, more importantly, Snap also improved its bottom line by reporting a better than expected $329m in revenue for Q1, representing a healthy 39% increase from a year before.
Snap also improved its bottom line by reporting a better than expected $329m in revenue for Q1
Crowing about the apparent turnaround in a statement chief executive Evan Spiegel claimed: “As of March, our ads can now reach more 13 to 34 year-olds than Instagram in the United States.”
Snap has spent years rebuilding its outdated Android flagship app in a bid to attract more international audiences, an investment which is apparently bearing fruit after the service welcomed 2 million new users from outwith the US and Europe.
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Last month Snap introduced its audience network to better integrate ads within third-party apps, further monetising its offer.
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Snapchat is an image messaging and multimedia mobile application created by Evan Spiegel, Bobby Murphy, and Reggie Brown, former students at Stanford University, and developed by Snap Inc.Find out more