Snap Inc. has revealed its financial results for Q4 2018. This time around, they have had a positive impact on the company’s stock price.
Snapchat’s active user count had been consistently dropping since the unsuccessful redesign at the end of 2017, from 191 million to 186 million. However, executives will take solace in the fact the figures plateaued between Q3 and Q4 rather than continuing to fall further.
Active European users grew from 59 million to 60 million, while North American users stayed level – the social media’s two most lucrative markets.
The results also showed the average user spends 30 minutes per day on the app.
Revenue for the quarter came in at $390 million, a 36% increase year-on-year. Adjusted EBITDA losses were recorded at $50 million, an improvement of 68%.
The market has reacted brightly, with Snap Inc.’s price currently sitting at $9.01. This is an impressive jump of 80% since it bottomed out at $4.99 just before Christmas.
There has been a fair amount of success from Snapchat Original shows, especially ones based on dating that cater to the millennial target demographic.
Online dating brands in the UK are also still very interested in advertising on the platform.
Experts were anticipating that Snap Inc. would continue to struggle due to the large amount of high-profile employee turnover.
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