Snap Beats Q3 Expectations But Loses 2 Million More Users

This afternoon, Snapchat's email application reported that it had lost more active users in the three months to end September than analysts had expected. During the third quarter, the number of daily active users of the application decreased from 188 million to 186 million in the second quarter.

Despite the decline, SAD still rose from 178 million in the third quarter of 2017. However, the most important for investors was the fact that the 186 million third quarter DAUs did not exceed Wall Street estimates of 187.56 millions.

In a teleconference, Tim Stone, chief financial officer of Snapchat, warned analysts that the company would lose more users in the current quarter, marking three consecutive quarters of falling SAD indicators for the company.

Some of the numbers reported today exceed expectations. For example, revenues exceeded $ 283.2 million, which is expected to hit a record $ 297.7 million, a 43 percent jump from the highest number of deals of the year. last.

Average revenue per user increased from $ 1.17 to $ 1.60, driven by growth outside North America. Net loss plunged to $ 325.1 million (25 cents a share), from $ 443.2 million (36 cents a share) a year earlier. Controller Snap says revenues for the current quarter, which ends at the end of the year, range from $ 355 to $ 380 million. Analysts were looking for $ 371 million.

CEO Evan Spiegel reiterated that Snapchat would now target older users in the US and Europe. Jessica Liu, a Forrester analyst, explains that one of Snap's biggest problems with the Snapchat application is that the company "has a dim view of how to stand out beyond the 30-year sub-population in a social media scenario." One of Snapchat's biggest rivals, Instagram, is in full swing. This is due in part to the "" feature that started in Snapchat and was best implemented in Instagram. Snapchat is still well known for its Objectives feature, which allows the user to take a photo and spruce up their photo with caricature images such as large, fluffy dog ​​ears, a police cap with sunglasses and more.

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