Snap credits its gender-swap filters for adding 13 million users last quarter


Snap is finally on the upswing again after its disastrous 2018 redesign.
On Tuesday, Snapchat's parent company revealed the app gained 13 million new users in the second quarter, its largest boost since it went public in 2017. It also reported a boosted revenue of $388 million up 48% from a year earlier, sending stocks up 11% in post-market trading, The Wall Street Journal reports.
Snapchat had been either losing users or remaining stagnant from when it posted its IPO until the first quarter of 2019. It also saw a year of falling stock numbers, hitting a record low of $4.99 at the end of last year. Shares have since rebounded 180% to hit $16.50 after Snap shared its Q2 earnings Tuesday, though that's still below its debut price of $17, CNBC notes.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Snap's 203 million total user base exceeds the 192 million expectation analysts predicted for this quarter, Snap said on Tuesday. That's largely thanks to popular gender-swapping filters that apparently even helped one college student catch an alleged predator cop. An updated Android interface also helped retain and add users, Snap said. Snap expects its revenue and user base to continue growing in the third quarter, with an anticipated Q3 revenue of between $410 million and $435 million.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
Sodium batteries could make electric flight viable
Under the Radar Low-cost fuel cell has higher energy density and produces chemical by-product that could absorb CO2 from the atmosphere
-
Flying into danger
Feature America's air traffic control system is in crisis. Can it be fixed?
-
Pocket change: The demise of the penny
Feature The penny is being phased out as the Treasury plans to halt production by 2026
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect