Snap announces 8% user growth in Q2 2019

Anne Freier

In Mobile Advertising. July 25, 2019

Snap announced an 8% rise in users to 203 million for the second quarter of 2019. The company revealed the figures as part of an earnings call with analysts on Tuesday.

This translates to 13 million new users for the quarter, beating previous estimates of a total of 192 million.

The user growth could be indicative for Snapchat finally turning things around. The company made a series of improvements to its app including a dedicated gaming platform. It could also be a sign that its controversial app overhaul may be paying off as users are getting used to the changes.

It is a preferred app for the creation of videos and images among Gen Z users with its creative tools outranking Instagram and Photoshop.

Revenues during Q2 jumped 48% year-on-year to $388 million, beating estimates of $360 million.

The increase signals that brands may be seeking alternatives to Google and Facebook to target engaged audiences.

Snap further reported that losses dropped from $353 million in the previous year to $255 million. CEO Evan Spiegel confirmed that the company plans to be profitable in 2019.