Snapchat reports revenue growth and number of users - Technology
Snapchat reports revenue growth and number of users

Snapchat reports revenue growth and number of users

Share This

Snapchat reported an increase in revenue and number of users in the last three months boosting investors' expectations that the social network can survive the competition with Instagram. Snapchat shares rose by 20% shortly after the news.
The number of active daily users increased to 187 million in the last quarter of 2017 from 178 million that was the previous three months, breaking analyst expectations for 184.2 million users. Compared with a year ago, the number of users increased by 18%. Revenues increased by 72% to $ 285.7 million, breaking expectations of $ 253.2 million.
Instagram with more than twice the Snapchat daily users, supported by Facebook, has repeatedly threatened the story pioneer by copying its features. The belief that the two social networks can coexist disappeared last year as the Snapchat user base remained in place. Since the stock market debut last year where Snapchat shares were exchanged for $ 29, today the shares are $ 17. Also Snap announced that during this three months had had a $ 350 million loss of 170 million a year earlier.

No comments:

Comments