Snap’s Android Fix, Gender-Changing Lens Boost Users, Shares Up 11%

www.oann.com | 3/2/2017 | Staff
entengo (Posted by) Level 3
(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 a new augmented reality photo lenses.

The company said the number of daily active users rose to 203 million in the second quarter ended June 30 from 190 million in the prior quarter. The user metric was also up from 188 million a year earlier.

Shares - Snap - % - Trading

Shares of Snap jumped 11.6% to $16.55 in after-hours trading.

The AR lenses, which are filters that can overlay everything from bunny ears to freckles onto a user’s photo, went viral when it introduced a lens that let users switch their gender in photos.

User - Figure - Investors - Advertisers - Beat

The latest daily active user figure, widely watched by investors and advertisers, beat analysts’ average estimate of 192.2 million, according to IBES data from Refinitiv.

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, and the launch of mobile games within Snapchat in partnership with game developers such as Zynga Inc .

Popularity - Lenses - Millions - People - Android

“The popularity of these lenses drew millions of people into our rebuilt Android application, where they experienced the new and improved Snapchat that led to increased engagement,” Chief Executive Officer Evan Spiegel said in prepared...
(Excerpt) Read more at: www.oann.com
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