REUTERS: Snap Inc's original shows and rebuilt Android app helped it add Snapchat users for the first time in three quarters and top analyst revenue forecasts, but that was not enough to push its shares much higher after a sharp run-up this year.
Chief Executive Evan Spiegel has worked to turn Snap's business around while the company largely avoided privacy and other scandals plaguing bigger rivals like Facebook Inc. Shares of the company, which rose 12 percent immediately after the results, gave up most of their gains to trade up marginally at US$12.26 in after-market trading. They have more than doubled in value so far this year.
It also rebuilt its Android app, which had more bugs and a worse user experience than its iOS app. Snap had prioritised development on the Apple ecosystem through its stock market debut in 2017. Chief Business Officer Jeremi Gorman said during the analyst call that Snap's ad sales team has restructured in the United States as of April 1 to better serve advertisers according to their industry.
Average revenue per user jumped 39 percent to US$1.68 during the quarter from a year earlier. The company's net loss narrowed to US$310.4 million, or 23 cents per share, from US$385.8 million, or 30 cents per share.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Snap returns to user growth on new shows, Android app; shares jumpSnap Inc on Tuesday beat Wall Street targets for quarterly revenue as its photo-messaging app Snapchat added users for the first time in three ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Long-time Kazakh ruler backs loyalist for presidential voteNUR-SULTAN (AFP) - Kazakhstan's founding president Nursultan Nazarbayev on Tuesday (April 23) proposed loyalist interim successor Kassym-Jomart Tokayev as the ruling party's candidate for a snap presidential vote.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Snap returns to user growth on new shows, Android app; shares jumpSnap Inc on Tuesday beat Wall Street targets for quarterly revenue as its photo-messaging app Snapchat added users for the first time in three ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Google lets Android users choose browsers to ease EU antitrust concernsUsers of Android devices will be able to choose their browsers and search engines from five options starting on Thursday, a senior Google ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Google lets Android users in Europe choose rival browsers, search enginesUsers of Android devices in Europe will be able to choose rival browsers and search engines from five options starting on Thursday, a senior ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Twitter reports surprise quarterly user growth, revenue beatsTwitter Inc on Tuesday posted better-than-expected first-quarter revenue and a surprise rise in the number of monthly active users, a sign that ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China's growth beats forecasts as economy shows signs of stabilityBEIJING: China's economy expanded more than expected in the first three months of the year as government moves to kick-start growth helped offset weak global demand and a US trade war, data showed yesterday. The 6.4 per cent reading was the latest in a string of figures...
Source: thenewpaper - 🏆 7. / 63 Read more »
Malaysian budget airline Firefly restarts flights to Singapore, landing at Seletar AirportThe twice-daily service will soon be increased to six a day. This article, Malaysian budget airline Firefly restarts flights to Singapore, landing at Seletar Airport, originally appeared on Coconuts, Asia's leading alternative media company. Want more Coconuts? Sign up for our newsletters!
Source: YahooSG - 🏆 3. / 71 Read more »
US refiners planning major plant overhauls in 2nd quarter[HOUSTON] US oil refiners are planning a heavy slate of plant overhauls in the second quarter, with total production this month off 8.5 per cent compared with the start of the year, according to data from the US Energy Information Administration. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Mediacorp partners VICE to bring original content to SingaporeSINGAPORE: Mediacorp announced on Tuesday (Apr 23) it is collaborating with youth media company VICE to bring a raft of original VICE digital and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Step up evening patrols to nab speeding electric-bike usersIn June last year, a 20-year-old rider crashed his electric bicycle into a 37-year-old jogger at Marina Bay Sands. Why only evening patrols? They’re still on high speed everywhere during the day on pedestrian walking pathways. Feel for apprehensive elderly & unaware children etc.
Source: TODAYonline - 🏆 1. / 99 Read more »