\tOriginal video content and an updated Android app enabled Snap to add users for the first time in three quarters, as it narrowed its losses.<\/p>\n
\u201cIn the first quarter we delivered strong results across our business with growth in daily active users and revenue,\u201d said Evan Spiegel, CEO, citing broad availability of a new Android app as a factor.<\/p>\n
In an earnings call he added: \u201cWhile these earlier results are promising, improvements in performance and new user retention will take time to compound and meaningfully impact our top line metrics\u201d.<\/p>\n
He also stated Snap Originals have seen “incredible engagement”.<\/p>\n
It ended Q1 with 190 million daily active users (DAUs) were 190 million in Q1 2019, an increase from 186 million in Q4 2018 but 1 million shy of Q1 2018.<\/p>\n
A net loss of $310 million in Q1 was $75 million lower than in Q1 2018, while revenue grew 39 per cent to\u00a0$320 million.<\/p>\n
The company predicted revenue in the current quarter of between $335 million\u00a0and\u00a0$360 million, an increase of between 28 per cent and 37 per cent year-on-year.<\/p>\n
Snap’s revamped app faced backlash from users. In an effort to boost its user base, it launched a gaming platform as well as a host of new original shows earlier this month [1].<\/p>\n
Spiegel explained both products generate revenue through six-second non-skippable mobile video advertisements.<\/p>\n
Going forward the chief said the company plans to up investments in marketing; content; engineering; and sales “to support its long-term strategic objectives and to build on the momentum we see in our business today\u201d.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/apps-home-banner\/snap-launches-gaming-platform\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Original video content and an updated Android app enabled Snap to add users for the …<\/p>\n
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