Snapchat Rides AR Ads to Boost in Revenue Despite Redesign Hiccups

During Snap Inc.'s quarterly earnings report, released on Tuesday, the company disclosed that it snagged a revenue total of $230.8 million for the first quarter of 2018, an increase of 54% compared to last year, largely fueled by its augmented reality offerings and other advertising products. While Snapchat faced a backlash as a result of its app redesign, the company also saw daily active users rise to 191 million for the quarter, a 15% increase compared to the same period in 2017. During the earnings webcast, company founder and CEO Evan Spiegel addressed the controversy about the mobile... more

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