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Snapchat adds more users than expected as improved app takes hold

Snapchat adds more users than expected as improved app takes hold   Published On Snapchat adds more users than expected as improved app takes hold (Reuters) - Snap Inc on Thursday beat Wall Street estimates for user growth and revenue as the improved Android version of its popular messaging app Snapchat attracted more users, but growth slowed within North America. Shares of Snap rose 3.5% in trading after the bell. Daily active users, a metric closely watched by investors and advertisers, rose 22% year-over-year to 280 million in the first quarter. Analysts had expected 275.3 million, according to IBES data from Refinitiv. Most of the user growth continued to come from outside North America, rising 57% from the prior-year quarter.

Snap adds more users than Wall Street expected; growth slows in North America

By Sheila Dang (Reuters) – Snap Inc on Thursday beat Wall Street estimates for user growth and revenue as the improved Android version of its popular messaging app Snapchat attracted more users, but growth slowed within North America. Shares of Snap rose 2.2% in trading after the bell. Daily active users (DAUs), a metric closely watched by investors and advertisers, rose 22% year-over-year to 280 million in the first quarter. Analysts had expected 275.3 million, according to IBES data from Refinitiv. Most of the user growth came from outside the United States and Canada, where Snap earns much of its revenue. North American DAU grew 1 million from the previous quarter to 93 million.

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