Over the past 2 years, Snapchat has slowly lost steam as apps like Instagram/Facebook started implementing similar features like stories, but all is not lost for the vanishing-video app, it managed to bounce back!
From Billboard:
Snapchat has put an end to its user growth slump.
The messaging app’s parent company, Snap, on Tuesday said it had 190 million daily active users during the first quarter of the year, up from 186 million DAUs during at the end of 2018. That was 3 million more users than analysts were expecting but it’s still down from the 191 million DAUs that the company had in the first quarter of last year.
Shares in Snap jumped 10 percent in after-hours trading on the strong growth of the app’s user base.
Snap also reported a loss of 10 cents per share, better than an analyst forecast for a 12-cents-per-share loss. First-quarter revenue was up 39 percent to $320 million, which beat a Wall Street forecast of $306 million in revenue.
(image source: YouTube)