Snapchat user growth, revenue beat expectations; shares soar after Q4 results

0
80
Loading...
By: Reuters |
Published: February 7, 2018 9:10 am


Snapchat’s daily active users rose to 187 million in the quarter that ended December 31 from 178 million in the third quarter, beating analysts’ average expectation of 184.2 million users. (Image: AP)

Snapchat owner Snap Inc on Tuesday reported surging growth in users and revenue in its latest quarter, reviving hopes that it can survive competition with Facebook Inc’s Instagram and sending its shares up more than 20 percent. Investor enthusiasm for the instant messaging application company faded after its initial public offering last year.

But the Venice, California-based firm said that customers were now staying longer on the Android version of its app, after software bugs were fixed, and advertisers were taking to an auction-based advertising system that made it cheaper and easier to buy…

Read More

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here