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Snap stated Tuesday new model of the Snapchat Android app is within the works and will probably be designed from scratch, presumably in an effort to offer a good portion of its person base with a extra constant expertise than what’s at the moment obtainable on units operating Google’s cellular working system. The announcement got here as a part of Snap’s consolidated monetary report for the third quarter of the 12 months which managed to disappoint already skeptical buyers, having missed most analyst-made estimates even amid low expectations. Snap additionally introduced a significant redesign of its social media service that was offered in a way suggesting it’s unbiased of its upcoming Android app, being meant to additionally embody iOS and make Snapchat extra intuitive to make use of, therefore interesting to a wider viewers and presumably revitalizing the corporate’s slowing progress.
Snap’s person base was 178 million robust as of the tip of Q3 2017, marking a modest progress of solely 5 million customers over the three-month interval ending September 30th, three proportion factors increased in comparison with the Q2 2017 determine and 17 p.c up year-on-year. With Instagram Tales boasting greater than 300 million customers and Instagram itself having over 800 million people on its community, advertisers stay skeptical about Snap’s capability to offer them with probably the most environment friendly methodology of reaching a big, extremely focused viewers, although Snap is adamant that its person base is extra useful than what its opponents are providing. The social media agency posted a internet lack of $443.2 million or 14 cents per share over the third quarter attributable to a wide range of components, together with its still-unsuccessful experiment.
Snap additionally labeled Spectacles as a flop as a part of its newest financials, revealing a $40 million write-down on unsold items of its camera-equipped glasses. The corporate’s co-founder and CEO Even Spiegel described the event as a studying expertise, although it stays to be seen how a lot informative failures will buyers tolerate, particularly as Snap continues posting underwhelming outcomes throughout the board. Even the apparently largest constructive takeaway from the corporate’s financials fell beneath expectations, with Snap posting a income of $207.9 million in Q3 2017, roughly $30 million beneath earlier estimates. Regardless of a 60 p.c annual progress in turnover, the stagnating person base makes Snap a much less profitable proposition for entrepreneurs in comparison with Instagram, with the upcoming redesign being geared toward addressing that problem. No agency availability home windows for the brand new Snapchat Android app or its cellular overhaul have been offered by the Venice, Los Angeles-based startup.
The put up Snapchat Maker Promises New Android App After Poor Q3 Results appeared first on AndroidHeadlines.com |.
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