Snapchat beats estimation made by the Wall Street Journal, registers revenue of $320 million i.e. 39% up year-over year.
Daily active users (DAUs) count for the photo-messaging app has reached 190 million, which is 2% up from 186 million in the previous quarter however down from 191 million in Q1 2018.
“In the first quarter we delivered strong results across our business with growth in daily active users and revenue,” CEO Evan Spiegel said in a statement. “Our new Android application is available to everyone, with promising early results,” he added.
25% smaller, the new app opens 20% faster on average. Snapchat has modularized the platform for more resourceful ongoing innovation.
As noted in the month of March, ads on the photo-messaging app reached 75% of the US consumers mainly in the age group 13-34, which is more than that of Facebook-owned Instagram. The social media company has also announced 10 new Snap original shows that will start airing in May.
“We’ve enhanced Discover’s high quality, made for mobile video offering across the Snapchat platform. In Q1 2019,nearly half of our daily Discover viewers watched Discover every day of the week,” said the company
It now offers more than 450 premium content channels worldwide. “As we look towards the future, we see many opportunities to increase our investments, and will continue to manage our business for long term growth, “Spiegel noted.
Source: New18