Snap, the parent company of ephemeral messaging app Snapchat, said Tuesday that it grew its daily active users to 203 million in the second quarter, a sign that the company saw some success with its revamped Android app.
That’s 13 million more users compared to the first quarter when the company reported 190 daily active users.
Snap reported $388 million in revenue in the second quarter, which was well above the $359.69 million that analysts surveyed by Thomson Reuters expected.
The company posted a loss of 6 cents per share, beating expectations of a loss of 10 cents per share. Snap narrowed its net loss to $255 million from $353.10 million during the same period last year.
Snap has been grappling with a number of challenges including executive turnover and consecutive drops in daily active users. The company has seen a resurgence in user growth this year, but is still smaller than its competitors such as Facebook, Instagram, TikTok and Twitter. In April, the company updated Snapchat’s Android app with a revamped camera and fewer bugs. The company also released new games and original shows on Snapchat in an effort to users on the platform for a longer time.
“The growth in our community, engagement, and revenue is the result of several transitions we completed over the past 18 months,” said Evan Spiegel, Snap’s CEO in a statement. “We look forward to building on our momentum and making significant ongoing progress in each of these areas.”
Snap saw a 10% increase in the retention rate of people who opened the ephemeral messaging app for the first time after it revamped its Android app, the company said.
The company’s stock is currently up more than 11 percent to $16.54 per share in after-hours trading.
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