- The app’s revenue grew by 50% in relation to the previous year reaching $ 446 million
- After launching an Android’s new version on July the app added 7 million daily users during Q3 and the emerging markets had the greatest impact on this result
- This was the first time in two years that the app has also shown better engagement numbers in KPI’s such as app’s openings, post numbers, and time spent watching the content inside the platform
Snapchat is back on the game, or at least this is what the social media company is committed to proving and is working. After suffering from Instagram‘s heavily competition, the app seems to be able to fight for having back its share among the social media first division apps.
Following the steps of Q2, when the company already exceeded the revenue and daily users forecasts, Q3 brought as much great news to the company as the previous quarter. Snapchat reached $ 446 million total revenue amount during the period, which means a jump of 50% in a YoY analysis, besides reaching 210 million total users from which 7 million are active daily, an increase by 13% in relation to previous year same period, according to TechCrunch.
But all these achievements weren’t enough to make the app a profitable company yet and changing this game around is now Snapchat’s biggest challenge. According to TechCrunch, the investors still have concerns about the company’s ability to generate profit and that’s why the company still below its $ 17 IPO share pricing. After the Q3 results release, the shares were available for $14 and after a few hours down to $ 13.35.
Although, it doesn’t mean that Snapchat’s share pricing hasn’t got any better, last December the company had to deal with a $ 4.99. In 2019, the company already faces a much better scenario.
The engagement is back thanks to emerging markets
Since a social media app is the topic of the conversation, the engagement results must be the king and for the first time after two years, Snapchat has really great news about it.
The Q3 report indicates that the Stories posting and viewing increased significantly, but the Discover format deserved the spotlight with a 40% increase in time spent watching in a YoY analysis. In a general way, the company revealed that daily users are used to opening the app 30 times per day, more than the 25 times reported in July 2018.
Both daily users increase and the more engaged audience has all to do with the released of an Android new version, that besides offering new features were also developed to works better on unstable connections. With all these improvements made in the previous quarter, Snapchat achieved high growth rates outside the North American and European countries, especially in India.