Snap Figures Out How to Grow Again
Snap (NYSE: SNAP) returned to growth in a big way in the second quarter, buoyed by a new Android app that helped user growth surge 8% year over year while notching its biggest sequential user gain in nearly three years.
That it also reported a much narrower loss than analysts expected indicates the Snapchat operator may have found its stride once more. Yet as powerful as these results were in pushing Snap's stock higher, a big, one-quarter improvement is not a trend, and now the social media specialist needs to prove this was more than just a fluke.
An Android upgrade and new augmented reality lenses make Snapchat fun again. Image source: Getty Images.
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