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The social media giant announced a net loss of 4 cents per share, which is lower than the consensus estimates of a net loss of 8 per share in the fourth quarter.
Snap's revenue was $ 389.8 million, better than badysts' forecasts of $ 377.5 million.
Active users, a key indicator of the industry, have stabilized despite growing competition from rival social enterprises. Snap had 186 million daily active users in the fourth quarter, which remained unchanged from the previous quarter. Analysts expected the number of daily active users to drop by 1.5 million.
Snap's shares were up 16.48% at 4:34 pm ET.
<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Facebook, the biggest rival of Snap (FB) revealed in its report on the results last week that Instagram Stories now has 500 million daily active users. "data-reactid =" 20 "> Snap's main rival, Facebook (FB), revealed in his earnings report last week that Instagram Stories now has 500 million active users.
Snap also reported that, compared to 2018, 30% more users daily watch publisher stories and broadcasts.
<p clbad = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" We have finished the year with a commitment stabilizing user and have begun to roll out the new version of our Android application to a small percentage of our community, "CEO Evan Spiegel & nbsp;said in a statement. "We are closer to profitability because we have maintained a relatively consistent cost structure over the last five quarters while increasing our annual business turnover by 43% over the previous year." "Data-reactid =" 22 ">" We finished The year was marked by the stabilization of the engagement of the users and the launch of the new version of our Android application with a small percentage of our community ", said CEO, Evan Spiegel, in a statement. "We are very close to profitability because we have maintained a consistent cost structure over the past five quarters while increasing annual revenue by 43%. compared to the previous year. "
Snap announced that it now expects revenues of between $ 285 and $ 310 million in the first quarter of 2019.
He was tumultuous in the C-Suite for Snap. Ten executives have left the company in the last 18 months and, in the first month of 2019, CFO Tim Stone announced his departure after less than a year of work. Laura Sweet, Snap's chief accountant, served as Acting CFO until a more permanent option was found. Investors and badysts expect from Spiegel that the turnover rate of executives of the company is cause for concern.
The Snap results conference call begins at 5 pm AND.
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<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Heidi Chung is a Yahoo Finance journalist. Follow her on Twitter: @heidi_chung."data-reactid =" 27 ">Heidi Chung is a Yahoo Finance journalist. Follow her on Twitter: @heidi_chung.
<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit."data-reactid =" 28 ">Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.
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