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Photo illustration by Greg Ruben / Axios

Snap shares climbed 10% in aftermarket trading on Tuesday, following quarterly results that beat Wall Street analyst expectations on both the top and bottom lines.

What happened: Snap recently released its long-awaited redesign of its Android app, which executives said should rejuvenate its growth and user engagement. It also recently held its first conference for outside partners, revealing new plans to open up its garden walls.

By the numbers:

  • Loss per share: 10 cents per share vs. 12 cents per share expected, per Yahoo Finance.
  • Revenue: $320.426 million vs. $306.48 million expected, per Yahoo Finance.
  • Average revenue per user: $1.68 vs. $1.62 forecast by FactSet.
  • Global daily active users: 190 million vs. 187.22 million forecast by FactSet.

Snap also shared that its new Android app is 25% smaller, opens 20% faster on average, and that on lower-performing devices, it led to a 6% bump in the number of users sending photos or videos within the first week of upgrading to the improved version.

Editor's note: This story has been updated with additional details about Snap's Android app.

Go deeper

CDC to cut guidance on quarantine period for coronavirus exposure

A health care worker oversees cars as people arrive to get tested for coronavirus at a testing site in Arlington, Virginia, on Tuesday. Photo: Olivier Douliery/AFP via Getty Images

The CDC will soon shorten its guidance for quarantine periods following exposure to COVID-19, AP reported Tuesday and Axios can confirm.

Why it matters: Quarantine helps prevent the spread of the coronavirus, which can occur before a person knows they're sick or if they're infected without feeling any symptoms. The current recommended period to stay home if exposed to the virus is 14 days. The CDC plans to amend this to 10 days or seven with a negative test, an official told Axios.

  • The CDC did not immediately respond to a request for comment.
1 hour ago - Health

CDC panel: COVID vaccines should go to health workers, long-term care residents first

Hospital staff work in the COVID-19 intensive care unit in Houston. Photo: Go Nakamura via Getty

Health-care workers and nursing home residents should be at the front of the line to get coronavirus vaccines in the United States once they’re cleared and available for public use, an independent CDC panel recommended in a 13-1 emergency vote on Tuesday, per CNBC.

Why it matters: Recent developments in COVID-19 vaccines have accelerated the timeline for distribution as vaccines developed by Pfizer and Moderna undergo the federal approval process. States are preparing to begin distributing as soon as two weeks from now.

Obama: Broad slogans like "defund the police" lose people

Snapchat.

Former President Barack Obama told Peter Hamby on the Snapchat original political show "Good Luck America" that "snappy" slogans such as "defund the police" can alienate people, making the statements less effective than intended.

What he's saying: "You lost a big audience the minute you say it, which makes it a lot less likely that you're actually going to get the changes you want done," Obama told Hamby in an interview that will air Wednesday morning at 6 a.m. EST on Snapchat.