Snap Inc. posted some good numbers in its Q2 2019, with more than 200 million daily users but its fight to overcome its shortfalls is far from over…
After suffering several quarters of declining usership, Snapchat posts some good news. In Snap Inc’s 2019 Q2 earnings report, the company reveals it had 203 million daily active users or DAUs, which represents an 8 percent increase in a year-over-year comparison and a 7 percent raise in quarter-over-quarter.
Snap 2019 Q2 Earnings Report Shows Growth
The news comes after Snap Inc. rolled out a redesigned app for Android last quarter. The company states its users are sending 7 percent more Snaps with the new app.
But, the social company also stipulates, “the majority of Android devices used by new users.” This could mean there are users who continue to run older versions of the Android app.
Meanwhile, retention seems up, as well. The company states it “saw more than a ten percent increase in the retention rate of people who open Snapchat for the first time.”
Although, the financial landscape isn’t as bright. The company remains unprofitable but it’s on the right track to profitability. Snap earned $388 million in revenue, a whopping increase of 48 percent over the same quarter last year. However, the company lost $255 million, which is 28 percent less than it did in Q2 2018.
Additionally, people viewing content on Discover daily rose by 35 percent over the last year. Total time spent watching Discover content was also higher by 60 percent in a year-over-year comparison.