Snap has stopped losing users

After two quarters of losing users, Snap’s losses seem to have stabilized. The company says today that it has the same number of daily active users globally as it did last quarter at 186 million. That’s still fewer than the 191 million it had at this same time last year, but suggests the platform’s user base may have stabilized.

Beyond the stable user base, Snap set a new record for quarterly revenue at $390 million, which brings its yearly total to more than $1.1 billion. The company still isn’t profitable, but CEO Evan Spiegel says spending has leveled out. Today’s earnings report represents a great cap to a miserable year for Snap. Spiegel lost multiple top executives in 2018, including his head of finance, chief strategy officer,…

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