Snapchat’s growth accelerated after the social media company rolled out an improved version of its Android cellphone app, a sign of recovery after a rocky period.
Snapchat, the messaging and photo-sharing app owned by Snap Inc., said an average of 203 million users logged in daily in the second quarter, ahead of the 191.7 million estimated by analysts. In a statement on Tuesday, the Santa Monica-based company also said sales in the period jumped 48% to $388 million, topping the $360.5 million average projection, according to a Bloomberg survey. Shares jumped more than 9% in late trading following the report.
“Completing these transitions has established a strong foundation for growing our community, increasing engagement, and growing advertiser demand,” Chief Executive Officer Evan Spiegel said in prepared remarks.Spiegel isn’t just trying to move past Snap’s own growing pains — he’s dealing with an increasingly competitive landscape, with Facebook Inc.’s apps copying some of his most popular inventions.
That’s why Snapchat needs to focus on growing in other ways, by drawing users in with new games, media content, and ways for people to manipulate their appearances, Zgutowicz said. In April, the company added more advanced ways for users to take videos. In May, Snapchat added a gender-swap filter, which would allow people to see what they’d look like as a member of the opposite sex.
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