Snap appears to be growing again after some losses following its app redesign.
At the time the company was releasing the last earnings report, the user base had gotten to 4 million users in the world.
The platform now boasts of 190 million active users per day, up from 186 million.
It is likely that the users are from different parts of the world, according to Evan Spiegel. The CEO says that the platform has reached more ‘13 to 34-year-olds’ in the U.S compared to Instagram.
Spiegel adds that the company now has 75% of the US users being between 13 and 34 years old, and 90% of them being between 13 and 24.
‘The increase in users during the first quarter is a good thing. After a tough period in the last few quarters, DAUs had fallen to 186 million. The figure is now at 190 million, which is close to what it was in the first quarter of 2018. After the failed redesign in 2017, the platform has struggled to gain new users,’ said Debra Aho Williamson, a Principal Analyst at eMarketer.
The company’s revenue has gone up 39% beating what was expected. The boost in revenues is likely driven by new ad formats including the commercials for original show content.
The average revenue per user went up to $1.68.
‘The platform’s growth in revenue is also another good sign. More than seeing gains in Europe and North America, there is significant ad revenue growth from other regions too,’ added Williamson. ‘The updated Android app could result in more gains in the quarters to come if more people start using it. A significant number of Snapchat users are on Android.’
Snap is expecting a growth in revenue to get to $360 million in the second quarter of this year. The company just expanded the platform by introducing a gaming platform that could make money in the days to come.