Snap Inc appears to have finally hit a more positive note on the user growth front as it revealed that the number of daily active users globally stabilised during the last quarter.
In the company’s latest earnings announcement, the Snapchat maker said it now had 186 million daily active users, which is the same number as it had last quarter, and suggests a stabilisation of its user growth decline.
The company had suffered user loses due to a sweeping redesign of its app that resulted in angered users abandoning the app.
Snap revealed a quarterly total revenue of $390 million to a total of $1.1 billion for the year, suggesting that after a year of turmoil the app maker may be getting back on its feet.
CEO Evan Spiegel said:
“The transitions we made in both the Snapchat platform and our business last year were necessary and created many of the opportunities we have ahead of us, but change is always difficult and this past year was no exception. We focused on building the leadership team we need in order to execute against our long‐term opportunity, and recently welcomed several talented and experienced leaders for the next stage of our company’s growth.”
Although Snap acknowledged that its redesign may have driven some users away, it said that it led to 30% more people watching Snapchat stories and shows.
Whilst iOS users grew quarter-on-quarter, Android remains a sore point for the company.