May 1, 2018 / 8:25 PM / 21 days ago

BRIEF-Snap Says Advertising Business Has Continued To Grow Despite Redesign Headwinds

May 1 (Reuters) - Snap Inc:

* SAYS “ANDROID PERFORMANCE IS STILL A WEAKNESS FOR US” - PREPARED REMARKS

* GIVEN VOLUME OF CHANGES MADE WITH REDESIGN, NUMBER OF PERFORMANCE REGRESSIONS LED TO DISPROPORTIONATELY NEGATIVE IMPACT AMONG ANDROID USERS

* SAYS “OUR LEGACY CODEBASE REMAINS A PROBLEM” - PREPARED REMARKS

* IN Q1, AVERAGE COST PER APP INSTALL, AVERAGE COST PER SWIPE IN THE U.S. WERE WELL UNDER HALF OF WHAT THEY WERE THE YEAR BEFORE - PREPARED REMARKS

* ALSO STARTED TO REALIZE SOME POSITIVE BENEFITS FROM REDESIGN, INCLUDING INCREASED NEW USER RETENTION FOR OLDER USERS - PREPARED REMARKS

* DESPITE SOME HEADWINDS FROM REDESIGN, ADVERTISING BUSINESS HAS CONTINUED TO GROW - PREPARED REMARKS

* “OUR TIME SPENT REMAINED MORE THAN 30 MINUTES PER DAY ON AVERAGE FOLLOWING THE REDESIGN” - PREPARED REMARKS

* CONTINUE TO PLAN FOR MODEST OPERATING EXPENSE GROWTH IN NEAR TERM - PREPARED REMARKS

* PLANNING FOR H1 2018 OPERATING EXPENSE TO GROW BY LOW DOUBLE-DIGITS VERSUS BACK HALF OF 2017, EX. ONE-TIME CHARGES - PREPARED REMARKS

* PLANNING FOR CAPEX TO BE SLIGHTLY ELEVATED IN NEAR TERM, AS CO CONTINUES BUILD OUT OF LEASED SANTA MONICA FACILITIES

* PLANNING FOR INFRASTRUCTURE COSTS TO RISE MODESTLY IN SHORT-TERM AS CO CONTINUES TO TEST, ROLLOUT CHANGES TO APP - PREPARED REMARKS Further company coverage:

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