Snap Inc's Snapchat on Tuesday added more users for a second straight quarter and beat analysts' estimates for revenue, getting a boost from a ...
REUTERS: Snap Inc's Snapchat on Tuesday beat analysts' estimates for user growth and revenue, getting a boost from a better version of its Android app and the launch of new augmented reality photo lenses.
After struggling last year with declines in users and high executive turnover, Snap finally returned to growth in the first quarter.In recent months, it scored wins with its augmented reality lenses, launched mobile games within Snapchat in partnership with game developers such as Zynga Inc and invested in more content on Discover, the part of the app that houses original shows and content from media partners.
Snapchat has been largely untouched by privacy issues plaguing Facebook Inc and Google's YouTube, two of Snap's rivals for digital ad dollars, because of its disappearing messages that make it difficult to broadcast misinformation or unsavoury content.Snap expects daily active users to be between 205 million and 207 million in the third quarter, Chief Financial Officer Derek Andersen said.
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