Snap is continuing a slow but steady climb back to growth. In its Q1 2019 earnings, the company announced it had 190 million daily active users, up 2.2 percent compared to last quarter’s 186 million users. That’s not exactly massive growth, but given that the company had 191 million daily active users one year ago, the company will take any growth it sees.
Users are still down from a year ago, but the ongoing rollout of Snap’s redesigned Android app could have helped things this quarter — the company announced today that the updated Android app is now available for all users.
In regards to that new app, CEO Evan Spiegel said in his prepared remarks that “improvements in performance and new user retention will take time to compound and meaningfully impact our top-line metrics.” So while it’s too early to pin all those new users on an improved Android app, Spiegel did say early results were “promising.”
As for its financial performance, the company pulled in $320 million in revenue, up 39 percent from the year before. While Snap still isn’t profitable, its operating loss of $316 million was $76 million less than a year ago.