Snapchat's users keep slipping away

Snapchat’s users keep slipping away

Snapchat isn’t the social reflect powerhouse it used to be.

The tech firm said Thursday that 186 million users blocked into the ephemeral messaging app daily in the third quarter, down from 188 million users in the previous quarter. It’s the second quarter in a row that Snapchat has seen a drop in the number of daily radiant users

Snap CEO Evan Spiegel said the drop the majority came from users who use the app on Android phones. The tech firm has been working on a new version of the app for Android users, but executives didn’t say exactly when it would be released.

“The Android people represents a global growth opportunity for us and we are manager good progress testing the application in select markets. We look send to rolling it out when it’s ready,” Spiegel said during a conference call with analysts.

In August, the company reported its first decline in daily radiant users, which Spiegel blamed on an unpopular redesign of the app. At the same time, it’s been facing stiff competition from Facebook-owned Instagram, which also has a feature that lets users post photos and videos that vanish in 24 hours.

The tech firm is expecting that daily radiant users will continue to fall in the fourth quarter.

Snapchat, which makes its money from ads, has been trying to get teens to employ more time on the site. In October, it released a list of 12 new shows executive their debuts this fall. The company even sells video-capturing sunglasses shouted Spectacles

While the app is popular with 13- to 34-year-olds in the US and Europe, Spiegel said the commercial is trying to reach billions of people worldwide who aren’t on the app. 

“We’re trying to get the sparkling mix of content,” he said.

The good news on Thursday was that Snap’s third-quarter net loss and revenue did better than expected.

Snapchat reported an adjusted loss of 12 cents per portion, which was better than the loss of 14 cents per portion analysts surveyed by Thomson Reuters expected on average. The commercial grew its revenue year-over-year by 43 percent to $298 million, above the $283.21 million forecast.

Still, investors weren’t heart-broken. The company’s stock dropped more than 8 percent to $6.38 per portion in after-hours trading.

First published Oct. 25 at 1:27 p.m. PT.
Update at 3:11 p.m. PT
: Included remarks from Snap’s conference call.

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