Snapchat just did something insane. It beat expectations

Snapchat just did something insane. It beat expectations

Snapchat just did something insane. It beat expectations

Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic. To that end, Snapchat has been teasing a redesign of its mobile app aimed at attracting older users by making it easier to use. It was Snap's fourth quarterly earnings as a public company. That successful turnaround helped the company to generate revenues of $285.7 million, comfortably beating the $252.8 million expected by Wall Street. However, even if it hits that number, it would still represent the sixth straight quarter of year-over-year revenue growth deceleration.

"Snap made significant progress on redesigning the user experience, with some proof points around engagement", Canaccord Genuity analyst Michael Graham said. The retention rate of new Snapchat users on Android increased by almost 20 percent compared to the year prior, according to prepared remarks.

Daily active users rose 18 percent from a year earlier, reversing a trend of slowing growth.

DAUs: 187 million, up 5% from Q3.

For fiscal 2018, New Relic said it expects revenue between $351.6 million and $353.1 million, up 33 percent to 34 percent from the previous year.

The silver lining is that Snapchat can still boast that it's a haven for coveted youth demographics.

Snapchat is courting its advertisers in an ad market on internet dominated by Google and Facebook, which together hold over 50% of the market share, said eMarketer a research firm online. On a non-GAAP basis, Snap lost 13 cents a share in the fourth quarter. Snap has a fifty-two week low of $11.28 and a fifty-two week high of $29.44.

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"Our business really came together towards the end of a year ago and I am very proud of our team for working hard to deliver these results", said Snap CEO Evan Spiegel. "They're trying to do something that hasn't been done", he said.

However, three months later, that redesign has still not rolled out widely, and investors will be looking for answers as to what's taking so long.

Snapchat could make a move. The Discover feature is important because it's where big media players display their content.

"The engine that drove the growth in the fourth quarter and will continue to drive our growth really is the auction platform".

Spiegel explained the changes to investors: "Our advertising business changed profoundly over the past year as we migrated the sale of our Snap Ads to an automated auction".

At the same time, the big announcement during Snap's last earnings report was CEO Evan Spiegel's admission that the service is too hard to use, meaning the company is at least thinking about trying to get new people to use the service.

Snapchat is now caught up in something of a social media war with Facebook and its range of services, including WhatsApp, Instagram and Facebook Messenger, which have been steadily implementing Snapchat-like features over the last two years. Snap is the 10th most popular stock among Baby Boomers, according to Stockpile.

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