FIRST AIRED: February 6, 2019

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snap defied wall street's sour outlook and posted better than expected results helping to push up shares by over twenty percent on Wednesday the company said daily active users in the fourth quarter remained unchanged from the previous quarter at a hundred and eighty six million users and that was good news to investors at the photo messaging app has struggled since going public in twenty seventeen with rival Instagram by Facebook copying many of its popular features Reuters reporter Sheila dang so Snapchat has really been able to turn the ship around in a sense they did not lose users this quarter it remained flat and investors were expecting them to continue to lose users so that's a really good sign for them and even though Snapchat is still much smaller than Facebook it date they've shown that they're able to hold on to their existing users and they're going to try to gain more outside of the US and Europe snaps revenue also rose thirty six percent on year beating Wall Street expectations thanks to an easier to use ad buying platform for marketers and new formats such as commercial on its original shows you can't skip it still posted a net loss of nearly two hundred million dollars but smaller than a year ago and CEO Evan Spiegel said the company was quote substantially closer to achieving profitability in addition to struggling to keep users last year the company also struggled to keep its key executives including its CFO Tim stone who is leading less than a year after joining the company the company has introduced more video content including original scripted shows with the aim of keeping hold of its users snap also started rolling out its new android app rebuilt to deal with bugs and improve the user experience which was lagging behind the apple iOS Snapchat app