After 18 months of slow growth, Snapchat has added 13 million active daily users in the last 3 months. That brings the total number of people using the app around the world every day to 203 million, the highest since the social app went SNAP went public.
Snap Inc. reported that revenue grew 48% to $388 million during the second quarter of the year and losses shrunk to 19 cents per share.
The company said it is now focused on international growth and is cautiously optimistic” that user engagement will continue to grow in the next year.
SNAP stock rose to $16.95 USD in early trading Wednesday, up $2.12, an impressive 14.30% gain.