Snapchat added 13 million daily users in the three months ending in June, ending a long period of lackluster growth and pushing the company's total audience above 200 million daily users for the first time
Snapchat added 13 million daily users in the three months ending in June, ending a long period of lackluster growth and pushing the company's total audience above 200 million daily users for the first time. The stronger-than-expected user growth, combined with a slowdown in losses during the quarter, helped drive up shares of Snapchat's parent company, Snap, about 11% in after-hours trading. It's now just short of its initial public offering price.
Read MoreExecutives attributed the revenue growth to investments the company has made in ad products, such as new six-second, unskippable commercial ads on its Discover content. Snapchat also introduced sponsored augmented reality features, with users spending an average of 10 seconds interacting with the photo lenses, the company said.It attributed user growth, which had stalled last year, to better quality exclusive content.
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