Snap Inc on Thursday beat Wall Street estimates for users and revenue in the subsequent quarter, scoring the most elevated growth rates since late 2017 as new features on its informing application Snapchat pulled in more users.

Shares of the Santa Monica, California-based company rose around 10% to $69.20 in expanded exchanging, after its figure for the current quarter additionally came in above assumptions.

Snapchat, known for its Stories feature that allows users to post updates that vanish following 24 hours, has developed its application into five sections crossing media content and viral short-structure video clips to keep users drew in and attract more advertisers.

Day by day dynamic users rose 23% to 293 million during the quarter finished June 30, over analysts’ estimates of 290.3 million, as per IBES data from Refinitiv. Client growth beat the company’s earlier best of 22%.

Snap’s revenue hopped 116% to $982 million, well over the assumption for $845.9 million. Already, its most grounded growth rate was 66%.

The company kept on developing all through the pandemic by advancing promotion arranges on Snapchat designed for acquiring sales for advertisers, for example, allowing users to swipe up on a portable promotion to go to the brand’s website.

Snap estimate second from last quarter revenue between $1.07 billion and $1.09 billion, and it anticipates that daily active users should become 21% to 301 million, both surpassing assumptions.

Analysts are expecting revenue of $1.01 billion and every day dynamic users of 298.5 million.

New protection controls executed by Apple in April, which were planned to restrict advanced advertisers from following iPhone users without their insight, caused “some disturbance” to publicist interest, said Snap’s Chief Business Officer Jeremi Gorman in a statement.

Notwithstanding, it was too soon to check the drawn out sway on Snap’s business, Gorman said.

To help brands increase sales, Snap has likewise put vigorously in expanded reality innovation for capacities, for example, assisting users with attempting cosmetics or garments.