Snapchat’s freefall after a launching an unpopular redesign has lastly slowed and now the corporate is starting to roll out a redesigned Android app. Snap Inc. introduced its fourth quarter and finish of yr outcomes for 2018 on Tuesday, February 5. The report turns round six months of dropping customers whereas the monetary outcomes exceeded the corporate’s personal predictions.
Snapchat customers quantity 186 million — the identical because the variety of customers reported final quarter, following two quarters of declines within the app’s consumer base. These numbers are nonetheless decrease than the 191 million from the beginning of the yr however present that Snapchat’s consumer base has stabilized following the decline sparked by an entire redesign of the app.
The corporate’s income elevated 36 %, hitting a document $390 million for the corporate, although nonetheless not sufficient for the corporate to show a revenue. The rise in revenue helped the corporate submit a smaller loss than the yr earlier than and sparked a bounce in inventory costs.
Whereas the corporate continues to be stabilizing after redesigning the app, the corporate is starting to check a brand new model of the Android app with a small proportion of customers. Whereas the sooner app overhaul was designed to regulate the interface to simplify the app for brand new customers, the Android replace is designed to enhance efficiency.
The corporate has been engaged on enhancing the Android expertise from what it calls a buggy and gradual efficiency. Within the quarterly report, Snap says that early testing of the Android replace exhibits a 20 % sooner load time when opening the app.
“In 2018, we centered on constructing a basis to scale the enterprise over the long-term by driving sustainable product innovation, scaling our promoting platform, and hiring the management group that can assist us obtain our future targets,” Snap Inc. CEO Evan Spiegel stated within the report. “We ended the yr with consumer engagement stabilizing and have began rolling out the brand new model of our Android utility to a small proportion of our group. We’re considerably nearer to attaining profitability, as we now have maintained a comparatively flat value construction throughout the previous 5 quarters whereas rising full-year income 43 % year-over-year.”
Further stats from the final quarter present constructive notes for Lenses and Writer Tales. Snap says that greater than 70 % of customers use a Lens ever day. The new Lens Studio created 300,000 new Lenses. Views for Writer Tales and Reveals are up by about 30 %.