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.
Meanwhile, Snapchat announced it’s finally starting to roll out its Android rebuild to some users, and the initial test results were promising. App startup time was reduced 20 percent, and the improvements could reinvigorate Snapchat for Android’s growth after years of bugs and slow loading dragging down Snapchat’s user count.
Source: TechCrunch http://j.mp/2Gm04ah
No comments:
Post a Comment