Shares closed the day up 4% at $11.99 while revenue increased 39% to $320m in the first quarter of 2019
Snapchat has seen user growth for the first time in a year, the company announced on Tuesday, after it improved its much-maligned Android app. The results beat Wall Street predictions and sent shares soaring after hours.
The company has been slowly rolling out updates to the app after users complained about blurry images and low-quality videos. In a call with investors on Tuesday, the Snapchat CEO, Evan Spiegel, said a well-developed Android app was “the price of admission” to international markets and acknowledged that users turned off by previous Android iterations might not immediately jump on the new version.