Snapchat pulled $320 million revenues from last year

Snapchat revenue is at the right path again and the company recently revealed its first quarter income and showed a growth of four million people globally, having a total of 190 million daily active users, a 2.2% up from 186 million since the last two quarters.

Snapchat pulled $320 million revenues from last year

Despite the four million growth, the number is still 1 million people less as compared to Snapchat’s peak user base since it went public back in 2017As of for the financial performance, Snapchat revenue pulled in $320 million in revenue, an increase of 39% from the year before.

CEO Evan Spiegel expressed that Snapchat reaches more 13- to 34-year-olds in the US than rival Instagram. He stated that the social media platform reaches 75% of 13- to 34-year-olds and 90% of 13- to 24-year-olds.

In the last quarter, Snapchat not only did major product updates, but also released its rebuilt Snapchat Android app, which was designed to be faster and less buggy.

Within the first week of upgrading the app, they saw a 6% increase in the number of people using the Snapchat.

Spiegel said that ‘improvements in performance and new user retention will take time to compound and meaningfully impact our top-line metrics’, but even so, he said that early results were ‘promising’. 

Moreover, Snapchat have high plans for the future. It recently announced that it was soon going to introduce a new series of Snapchat games, more original short-form shows, and announced a partnership with Tinder things that will keep users more engaged on the platform.

Online marketing often focuses on social media sites like Facebook, Instagram, and YouTube, but Snapchat offers clear benefits to today’s brand. If this is often where your target market is, it’s ideal to plug on to them on this platform.