After two-quarters of losing users, Snap's loss seems to have stabilized. The company today states that it has the same number of daily active users globally as it did the quarter of 186 million. It is still fewer than the 191 million it had at the same time last year, but suggests that the platform's user base may have stabilized.
Beyond the stable user base, Snap set a new quarterly revenue record of $ 390 million, bringing its annual total to more than $ 1.1 billion. The company is still not profitable, but CEO Evan Spiegel says that expenses have reached out. Today's earnings report represents a great cap for a miserable year for Snap. Spiegel lost several senior executives in 201
In prepared remarks, Spiegel referred to the departures, but did not address them directly.
"The transition we made in both the Snapchat platform and our business last year was necessary and created many of the opportunities we have in front of us, but change is always difficult and the last year was no exception," he says. "We focused on to build the management team we need to be able to carry out our long-term opportunity, and recently welcomed several talented and experienced leaders for the next step in our company's growth. "
While Snap lost users due to confused redesign, Ultimately, 30 percent more people look at Snapchat exclusive stories and shows, saying iOS daily active users increased both quarters over the quarter and year over, yet Android is a bad point for the company, Spiegel says engineering engineer is to rebuild the Android app and roll out a new version to a small group of users, it will be important to get right if the company not only keeps users from leaving, one also attract more.