Snapchat has finally been able to stop the purging of members and has grown revenue. According to The Hollywood Reporter, Snap can now boast 209 Million Daily Users. This is the first time Snap has had a growth since going public.
With the announced user growth came the news that Snap made $388 Million last quarter. These numbers crushed the expectations from Wallstreet. Wall Street was expecting a growth os 2 million users and $360 Million in revenue. Instead, they got 13 Million users and $388 Million.
In response, the shares of Snap, Inc. has grown 11%.
Snap redesigned Snapchat a while back and saw their daily active users plummet. They have since fix that design and rolled out a new Android app resulting in a 10% increase in daily users.