Snap Inc. Earnings Get A Boost With New Snapchat Andr
Social Media

Snap Inc. Earnings Get A Boost With New Snapchat Android App Update

Snapchat CEO Evan Spiegel highlighted that it has a better reach than Instagram in the USA

Snap Inc. Earnings Get A Boost With New Snapchat Android App Update

Snapchat is going on the right track. The Snapchat earning reports of Q1 2019 shows the daily user base has been increased by 4 million worldwide. The Snapchat app now has 190 million daily active users, which is an improvement from 186 million in the last two quarters.

Snapchat revenue jumped 40 percent within a quarter in comparison with the previous year. Snap made $320 million revenue and -$0.10 non-GAAP EPS in Q1 this year. The reason for this goes to the surge in ad revenue

According to the Snap earnings report, the daily active user's new numbers are still 1 million people behind its previous record of user base since the company went public in 2017. Snapchat’s Android app and original shows are the major reasons behind its improvement.

Snap Inc. CEO Spiegel stated that there was a 6 percent boost in the number of users sending Snaps after the upgrade of the app. The good news for this teenage-centric app is that it's still not enough to boost its shares much further.

Snapchat Revenue 2019

Credits - TechCrunch

Snap’s share rose to 10 percent instantly after the release of the company's earnings report. In just a few hours after trading started, Snapchat’s share valued to $13.11 and closed at $11.99. It is predicted that the revenue growth of this photo messaging app will remain between $335 million to $360 million in Q2.

Last year, Snapchat executives left the company in large numbers after a Snapchat Android app redesign was panned, but it still managed to stay as one of the most popular apps among teenagers.

Spiegel said during the earnings call with analysts,

Snapchat founder, Evan Spiegel, remarked that their Snap app has more reach to 13 to 34 year-olds in the USA than Instagram. He further added that Snapchat reaches 75 percent of 13 to 34 year-olds and 90 percent of 13 to 24 year-olds.

The recently released Snap Games could help the enterprise make more money as the company’s target users play games most of the time with their friends.

If this trend continues to go on then it is possible that Snapchat can overcome its rival Instagram completely and become the best-in-class messaging app.

MAD Team
Written By

MobileAppDaily host a team of experienced technical writers, industry wizards, and app experts who have an exact knack of content that caters to the needs of the mobile app targeted audience. We strive to bring you the best of tech!

Top Companies

Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
New Delhi, India
London, UK
View full report

Latest Articles

Join our global community 135K Followers
Social Media

Snapchat Tests New Foursquare Like Feature Called Status In Snap Maps

MAD Team 2 min read  

Snapchat is testing a new feature called Status in Snap Maps that will enable you to check-in and show what you are up to.New Snapchat update lets people display their activity and intent. Now it is easier for your friends to differentiate whether you are free to meet them or busy in some office

Social Media

Snapchat Releases Lens Challenges To Take Over TikTok

MAD Team 2 min read  

 Social media platform, Snapchat is looking forward to increasing their overall rate of user engagement by adding a new feature to their mobile application. This Snapchat update is basically a new feature of the Snapchat app that is known as the 'Lens Challenge', where the app users

Social Media

WhatsApp Vs. Snapchat: Clash Of The Apps

MAD Team 2 min read  

WhatsApp and Snapchat are a couple of the current era's biggest messaging services, making the most of great reputation among the smartphone-savvy users today.We put side by side both in a head-on battle to help figure out which one of these two messaging applications is way better.The u

Social Media

Snapchat’s Hidden Treasures – 5 Astounding Viable Ways To Stand Out On Snapchat

MAD Team 5 min read  

You will be surprised to know that Snapchat has over 100 million users who frequently use this app every single day. The tremendous increase of users on the social media platforms and its ever-growing dependency on advertising; make it crucial for a startup business to capitalize on the most popular