Investors reacted with delight to the return to user growth. They sent the share price up sharply at times in after-hours US trading.
Business was also better than Wall Street had expected. Snap's revenues climbed by almost 40 percent year-on-year to 320 million dollars thanks to a strong increase in advertising revenue. It also managed to reduce its loss by 20 percent to $310 million.
"We delivered strong results in the first quarter," Snap CEO Evan Spiegel said happily. He held out the prospect of increased investment for long-term growth. (SDA)