Snapchat isn’t growing again, but at least it didn’t hemorrhage any more users in its Q4 earnings report. The company stayed flat at 186 million daily users after falling from 191 million in Q1 to 188 million in Q2 to 186 million in Q3, exceeding an expected quarterly loss though Snapchat user count is still down 0.3 percent year-over-year. It reached record revenue of $390 million in the holiday quarter, beating the $378 million Wall Street estimate, and Snapchat lost just $0.04 per share comapred to Wall Street’s $0.08 loss estimate for a mixed earnings report.
The highlight of the earnings report was that Snap has managed a 68 percent year-over-year improvement in its adjusted EBITDA losses, which came in at $50 million. After closing at $7.04 today, Snap was up around 8.8 percent in after hours trading to hover around $7.66 — still way down for the year.
Written by Josh Constine
This news first appeared on https://techcrunch.com/2019/02/05/snapchat-earnings-q4-2018/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “Snapchat stops losing users but shrinks losses in Q4”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
