Snapchat users up 8% in a year to 203 million, company says

Shares climb as Snap Inc announces 48% increase in revenue to $388m

Snapchat announced an exceptionally strong second quarter on Tuesday, sending shares surging in after hours trading.

New augmented reality tools, a redesign of its Android application, and expansion into new markets brought the company major growth in the second quarter of 2019. The number of Snapchat users has increased 8% since this time last year to 203 million, the company said.