Shares of the social media stock are up 34% since it posted earnings on Feb. 5, including a jump of 5% during Monday trading.
In its fourth quarter earnings, Snap executives reassured investors that its base of daily active users -- which had declined the previous quarter -- was stable at 186 million. It also reported a narrower-than-expected loss of 4 cents per share, beating the 8-cent loss forecast by analysts.
Snap is also placing an emphasis on pushing out a new Android app that will launch globally this year and on newer, "self-serve" advertising technology that may wind up drawing more dollars to Snap's suite of ad options.
"Collection Ads, which enable a business to showcase four products in a single Snap, drove over twice the return on ad spend versus our comparable formats in Q4 2018," the company said an earnings release.
Many of Snap's issues throughout 2018 were tied to a widely-panned redesign of its core app that drove away some of its user base. However, in an interview with CNN Business last weekend, CEO Evan Spiegel made the case that the redesign will ultimately help Snap to solidify its status as a platform.
"We really identify this redesign as an opportunity to keep our commitment to our community by making sure that the content that they see on Discover is stuff that has been effectively selected by our team," he said in the interview.
Snap shares are now up more than 81% year to date but are still down 44% over the last 12 months.
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