Snapchat Q1 2019 earnings report revealed that the company reached 190 million daily active users – 2% increase from 189 million users in 2018. The company’s revenue for Q1 of 2019 was $320 Dollars, showing a 39% year-over-year growth. “In the first quarter we delivered strong results across our business with growth in daily active users and revenue. “Our new Android application is available to everyone, with promising early results. This month we announced several new products that we believe will drive further engagement and monetization,” said Evan Spiegel, CEO.
Though 2018 was didn’t go very well for Snapchat, the company’s efforts in diversifying brought great results in 2019. On April 4th, Snapchat hosted its first ever Snap partner summit to share with its partners the latest innovations the company brought on the platform. These include AR features, snap games, the ability to let third-party apps give their users the ability to create snap stories, and the Snapchat discover feature. As we look towards the future, we see many opportunities to increase our investments, and will continue to manage our business for long-term growth,” said Spiegel.
The Snapchat Q1 2019 earnings report also revealed that Snapchat reaches 90% of all 13-24 year-olds and 75% of all 13-34 year-olds (more than Instagram) in the US. The app has gone through a series of upgrades to ensure it performs well in all devices. Earlier this month the company launched a new build of its application for Android. The new app is (as claimed by the company) 25% smaller, opens 20% faster on average, and is modularized for more efficient ongoing innovation. On lower-performing devices, this resulted in a 6% increase in the number of users sending Snaps within the first week of upgrading to the new Android build.
While talking about The Snapchat Discover feature, the company revealed that it offers more than 450 premium content channels worldwide. In Q1, Snap launched over 50 new shows and publisher stories in international markets. It also announced that Snap original shows will reach the app in May 2019.
Snapchat stated in its Q1 2019 earnings report that it expects revenue to be $335 million-$360 million in Q2, or grow between 28% and 37% compared to Q2 2018. Adjusted revenue with loss before interest, taxes, depreciation and amortization is expected to be between $150 million and $125 million compared to $169 million in Q2 2018.
