Snapchat’s new android fixes boost shares up 9 per cent

Snap Inc’s Snapchat on Tuesday beat analysts’ estimates for user growth and revenue, getting a boost from a better version of its Android app and the launch of new augmented reality photo lenses.

The company said the number of daily active users rose to 203 million in the second quarter ended June 30 from 190 million in the prior quarter. The user metric was also up from 188 million a year earlier.

Shares of Snap jumped 9 per cent to USD 16.29 in after-hours trading.

The AR lenses, which are filters that can overlay everything from bunny ears to freckles onto a user’s photo, went viral when it introduced a lens that let users switch their gender in photos.

The latest daily active user figure, widely watched by investors and advertisers, beat analysts’ average estimate of 192.2 million, according to IBES data from Refinitiv.