[ad_1]
After two quarters of user losses, Snap's losses appear to have stabilized. The company says today has the same number of daily active users in the world as in the last quarter, or 186 million. This is even less than the 191 million it had at the same time last year, but suggests that the user base of the platform would have stabilized.
Beyond the stable user base, Snap set a new quarterly business turnover record at $ 390 million, bringing its annual total to more than $ 1.1 billion. The company is still not profitable, but CEO Evan Spiegel said the spending had stabilized. Today's results represent an excellent ceiling for a miserable year for Snap. Spiegel has lost several top executives in 2018, including his chief financial officer, his strategy director, his sales manager and his equipment president, but he states that they are hiring and are excited about the new talent. (The CFO of the company also left this year.)
In his prepared remarks, Spiegel made reference to departures, but did not solve them.
"The transitions that we made both on the Snapchat platform and in our company last year were necessary and created many opportunities, but the changes are still difficult and the past year was no exception , did he declare. "We have focused on building the management team we need to make our long-term business a reality, and we recently welcomed a number of talented and experienced leaders to the next stage of our company's growth."
While Snap lost users because of its disgusting redesign, the company eventually resulted in 30% more people watching Snapchat's exclusive stories and shows. He also said that daily active users of iOS have increased both from one quarter to the next and from one year to the next. Yet, Android is a sore point for society. Spiegel indicates that the engineering team is rebuilding the Android application and is deploying a new version to a small group of users. This is crucial to success if the company not only wants to stop users from leaving, but also to attract others.
Source link
