Snap added 8.9 million daily active users, bringing the total to 187 million. The business's quarterly revenue was up 62.2% compared to the same quarter last year. equities research analysts predict that Snap will post -3.03 EPS for the current fiscal year. Snap lost $443 million last quarter, nearly the same amount it lost in Q2 and up considerably from the $124 million it lost in Q3 the year prior.
The announcement late past year that Snap meant to completely rebuild the Snapchat app has been welcomed by frustrated users. Deutsche Bank reissued a "hold" rating and set a $13.00 price objective on shares of Snap in a research report on Monday, January 22nd. Despite launching its own TV shows as well as those in collaboration with big-name companies like NBC, ESPN and MGM Television, Snap has struggled to win over new users, and even saw a major partner like CNN end its daily Snapchat show.
Erdogan to meet Pope Francis
It was all smiles inside the Vatican when Turkish President Recep Tayyip Erdoğan met with Pope Francis on Monday morning. They instead stressed that all actors must avoid any provocative remarks promoting this false equivalency.
Spiegel said the company has hired 2,400 employees over the past two years, an average of 100 each month.
"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 Snapchat CEO Evan Spiegel in prepared remarks to Tuesday's earnings call.
Here's what's coming with PS4's big 5.50 update
The new system software will introduce supersampling for Ps4 Pro , play time management , library UI improvements and more. Following on from this, there's a new function that lets you hide certain apps under the purchased tab in the Library.
The biggest issue for Snap is its competition with Facebook's Instagram, says eMarketer analyst Debra Aho Williamson.
Among other features, the redesign promised to have a clearer delineation between content from friends and content from publishers.
The silver lining in a hard 12-month period for Snap is that it continues to grow both users and revenue despite Facebook's ruthless attempts to demolish it. Facebook's copies have certainly hurt the company, but they have not killed it yet. Some of those costs are due to expensive cloud services deals with Google and Amazon that once signaled that Snap was bracing for an explosion of user growth.
Sensex crashes 840 pts on Budget woes, Nifty below 10800
The Indian rupee on Friday pared all the morning losses and strengthened against the U.S. dollar in mid-day trading. After the budget was tabled by the FM Jaitley, Nifty was also reported to be falling at 10,968 points.