Snap shares surge 35 per cent after app redesign sparks user growth

The company's Q4 revenue jumped 72 percent year-over-year, while Snap's full year revenue was up at $824.9 million, increasing 104 percent year-over-year.

The new feature should come in handy for users who want to stop receiving notifications from certain friends, but do not want to sever connections with them on the app.

For Q3, Snap reported 178 million daily active users (DAUs) vs. the 181.8 million expected by analysts.

It accomplished both feats while losing less money than expected. Snap's executives chalked it up in part to moderating headcount and not buying back employees' shares during the quarter.

"We decoupled the redesign from a lot of the future development that we've been working on, so that's continued and I'm very excited about the product pipeline for this year", Spiegel said in Tuesday's conference call. Year-to-date, SNAP has declined -3.76%, versus a 0.85% rise in the benchmark S&P 500 index during the same period.

This suggests that the redesign of Snapchat that was unveiled in November by Snap CEO Evan Spiegel is having the desired effect on investors. The figure surpassed analyst's expectations of 184.2 million users.

More news: 'Sense of pride, community' found through Black History Month kick-off

The positive news sent shares of Snap soaring more than 23% in after-hours trading on Tuesday to $17.32, as investors showed renewed confidence in Snapchat's ability to add new users to help it compete with larger social media rivals like Facebook and Facebook-owned Instagram.

If Snap can make real revenue for media companies, they'll be more likely to partner with Snap on things like shows or stories down the line. In November, Snapchat unveiled a redesign that separated out peer-to-peer interaction and curated/professional content.

The Do Not Disturb feature, which has been present in Facebook Messenger and Apple's iMessage for years, comes after a few important additions to Snapchat. "More original content for Discover will only make the platform even more valuable as a complement to linear television, along with the ability to measure more on the platform".

Still, being a niche advertising platform, rather than a valid third player to Google and Facebook, is a rut Snap can't seem to extricate itself from. Wall Street, however, is looking for the company to report revenue of $253 million, up 52% from Q4 2016. Wall Street analysts had pegged Snapchat to add at most just 6 million new users during the last quarter of 2017. The lack of reach now offered by Snapchat, especially outside of North America, remains a limiting factor for marketers looking to leverage the platform's full potential.

Over the past year, Snap has made its flagship app easier for people to use, removing bugs in Snapchat's Android version and reducing its required bandwidth over cellular connections.

Snap, Inc. finally got a much needed turnaround and investors rejoiced. "A drop in quality takes users' attention elsewhere and Snapchat is now facing that challenge", Ben-Itzak said.

(Copyright © 2015. All Rights Reserved.)

Hong Kong activists' sentences overturned
What we are up against is the court taking a very narrow definition of non-violent civil disobedience actions", said Wong.

North Korea defends military parade before Olympics
North Korea is usually extremely sensitive about outside criticism of its human rights situation. She received a silver medal for her performance in figure skating.

Morocco triumph with CHAN after crushing Nigeria 4-0

UNG hosts Black History Month events
Men of Excellence, an organization that supports minority males on campus, has hosted the "Continuing the Legacy Walk" since 2015. Schools will showcase their learning on February 28 during an event in the Joshua Creek Public School library in Oakville.

Barca held by derby rivals
However, Barcelona's 22nd game unbeaten broke their own club record and kept the possibility of a broken league record on track. Barca coach Ernesto Valverde agreed that a point was a decent result given the state of the pitch by the end of the game.

IPhone Slow-Down Scandal Prompts Full-Blown Federal Investigation

Man City held at Burnley after late Gudmundsson equaliser
Guardiola can say that all he likes, but we all know that Sterling's miss has directly cost City two points on this occasion. Interesting post? Please share! The most important thing we have done is focus.

Following the completion of the transaction, the director now owns 26,104 shares of the company's stock, valued at $5,144,315.28. The fund owned 4,795 shares of the computer hardware maker's stock after selling 1,340 shares during the quarter.

Raheem Sterling's miss of season allows Burnley to hold leaders City

CBS, Viacom boards weigh merger again with Redstone's support
Viacom is best known for its cable channels, like MTV and Nickelodeon, while CBS is best known for the CBS broadcast network. Redstone split the two companies apart in 2006 amid uncertainty about the future of both businesses.

Russian athletes in new authorized battle with IOC
On Sunday, the International Olympic Committee president Thomas Bach had expressed disappointment on the CAS decision to clear the Russian athletes.

Justin Timberlake says Janet Jackson won't be joining him at Super Bowl
This year, Justin Timberlake is the performer, and KSFY News Reporter Kamie Roesler got word from him Thursday in Minneapolis . So Tom is definitely the type of dude you'd invite over to watch the Super Bowl .

IPhone owners who paid full price for battery may get rebate
The Apple letter contains two pieces of information that prompt more questions rather than shed any light on the situation. The company apologised and lowered the price of battery replacements for affected models from US$79 to US$29.

Time To Talk About Mental Health

Several feared trapped after Taiwan quake
The ministry also issued a safety advisory to Japanese traveling to Taiwan to use caution and postpone visits if possible. Firefighters could be seen climbing ladders hoisted against windows as they sought to reach residents inside apartments.

More News

More News