Snapchat lost 3 million daily users in the past three months

Snapchat lost 3 million daily users in the past three months

Snapchat lost 3 million daily users in the past three months

Saudi Arabia's Prince Alwaleed bin Talal, a well-known tech investor, announced on Tuesday that he had invested $250 million into the company, in return for a 2.3% stake.

The most interesting aspect of the report is Snapchat's daily user count, which dropped from 191 million in Q1 to 188 million in Q2.

Its global revenue was $262 million in the second quarter, beating the Thomson Reuters I/B/E/S estimate of $250.43 million, as average revenue per user surged to $1.40 from $1.05 a year ago.

After a tumultuous first year as a public company, Snap is starting to show some stability, despite the slowdown in user growth. After the report was released, Snap's stock price rose slightly to $13.20 from the regular session's close of $13.12.

Average revenue per user (ARPU) increased 34 percent from the second quarter of 2017.


Snap did reveal that 11 of its Shows now have a monthly audience of over 10 million users, which is up from the 7 million in last quarter. Snap in first-quarter results said it would again adjust how it presents content. That has come at the cost of the premium feel Snap had tried to ascribe to its ads, but given overall sales a jolt by attracting more advertisers. Speaking six months after the relaunch, he added: "We have been working hard to iterate and improve Snapchat based on the feedback from our community".

Shares in Snap climbed more than 12 percent in after-hours trading before reversing course.

"On the positive side, Story Ads transitioned to programmatic (75% of ad revenue now programmatic), Snap Pixel entered general availability, and the self-serve platform saw some updates in the quarter". It will be interesting to see if this trend of desiring privacy in the modern era will continue, or if Facebook and Twitter are just waiting to pounce. The company for the first time offered a forecast for future revenue, indicating that it has a clearer understanding of its business potential, even after shifting strategies, cutting staff and cycling through managers.

Snapchat later made some changes, but in the months following, over 1.2 million users around the globe signed a petition, asking the company to revert back told the old design.

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