Snapchat Adds 13 Million Users, Ending Growth Slump

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Snapchat Adds 13 Million Users, Ending Growth Slump
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The messaging app now has 203 million daily active users.

The stock for Snapchat's parent company surged on Tuesday afternoon on the news that the company had added 13 million users during the period, a signal that its business is growing following a lackluster 2018.

Snap Inc. stock was up more than 11 percent during after-hours trading following the report's release. "We are proud of the results that our team delivered this quarter," Snap CEO Evan Spiegel said in prepared remarks released ahead of a Q&A call with investors. He attributed the growth to "several transitions," including improvements to the app and leadership changes, adding "completing these transitions has established a strong foundation for growing our community, increasing engagement and growing advertiser demand.

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