For the past couple of years Snapchat has been struggling to keep pace with the likes of Instagram, with the former bleeding daily and monthly active users with each passing quarter.
That changed somewhat during Q4 of 2018, with the social media platform’s recent report (PDF) detailing that its daily active user count remained steady at 188 million. This number slightly surpasses the estimated amount of 184.2 million users, with it projected as such following a series of quarters where the numbers of users dropped consistently.
Whether the app has now turned the corner is still up for debate, but the fact that it has managed to stop losing users is definitely a mark in the plus column.
Along with stemming the loss of users, Snap Inc. (which is the holding company for Snapchat) also achieved a recorded revenue for the holiday period of $390 million, which is up a significant 36 percent compared to the same time last year.
This positive quarter has given the company confidence too, with CEO Evan Spiegel noting that it gives Snap Inc. enough runway to operate for the next year or two, and even reach profitability. It also affords them the chance to stave off talks of being acquired, or turning to new investors for an injection of cash.
It should prove interesting to see if Snap Inc. can keep this momentum going, and potentially gain some ground on the social media giant that is Instagram.