Snap's First Quarterly Earnings Report Will Reveal Facebook's Impact

The world's biggest social networks are locked in a serious battle over silly filters

The world's biggest social networks are locked in a serious battle over silly filters

Earlier You had up to 10 seconds to enjoy a photo or video that was sent to you.

Metrics were taken from quarterly earnings reports and stock prices were recorded one day before the quarter's earnings release, at close (the last possible point when the stock price would not be affected by the earnings release).

Snapchat has unveiled several new editing tools today, including a so-called Magic Eraser, by which users can rub away unwanted items from an image and replace them with patterns that match the image's background. And this plays into the Limitless Snaps feature.

A "draw with emojis" tool has also been introduced, allowing Snapchat users to draw on to their photos and videos using the colourful animations. And lastly you have the timer.

Until now, it has been more common for Facebook and Instagram to update its services with features copied from Snapchat, but it seems Snapchat has returned the favor with the new Loop tool that is similar to Instagram's Boomerang feature. As Snap adds more creative tools, it's now organizing them all down the right side of the screen for easy access. Once the recipient clicks out of the photo, it will disappear as usual. This pairs nicely with the new option to remove a time limit from your Snap, so friends can view it as long as they'd like before moving on.

The app, which is extremely popular among teenage smartphone users, has more than 158 million daily active users globally, and over 10 million in the UK. It's time to figure out just what are you going to say with your newfound freedom. This tool can help you hide objects in your Snap.

A promotion video (below) from Snapchat shows the new lenses allowing flowers to be planted in the ground and a rainbow to be placed above a group of people who are sitting at a table.

"We've all felt the frustration of not being able to fully enjoy a Snap - even after replaying it - and we wanted to give you the option of allowing the recipient to enjoy your Snap as long as they'd like", the company said in a blog post on Tuesday.

The final big update Snapchat added to the app was the "magic eraser" tool. You can access it by selecting the scissors icon and then the icon with stars on it.

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