Snapchat Sales, Users Top Estimates, Buoyed by Android Fix
- Social-media company rebounds from slump, redesign woes
- Shares surge as app maker gives rosy revenue forecast
The SnapChat application on an Android smartphone.
Photographer: Guillaume Payen/SOPA Images/LightRocket via Getty Images
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Snapchat’s growth accelerated after the social-media company rolled out an improved version of its Android mobile application and introduced fun ways for people to manipulate their images and videos.
Snap Inc., whose Snapchat app lets people send each other disappearing photos and videos, said an average of 203 million users logged in daily in the second quarter, well ahead of the 191.7 million estimated by analysts. It was a sign of recovery after a rocky period, and shares jumped more than 13% in late trading following the report.