Snaps earnings show that users arent disappearing anymore

first_img Snapchat Tags Getty Images Snap, which has struggled to keep users on its Snapchat app, broke its losing streak.Snap said Tuesday that 186 million users logged in to the vanishing-messaging app daily in the fourth quarter, the same number as in the previous quarter. Snap had seen a drop in daily usage for two consecutive quarters last year after an unpopular redesign of the app.The results helped the company boost revenue and narrow its loss compared with the same period last year.Investors loved the news, pushing the company’s shares as much as 20 percent higher in after-hours trading. That isn’t to say Snap doesn’t have challenges. The company is working on a new version of the app for Android. Snap is also dealing with a string of executive departures, including Tim Stone, the chief financial officer who said last month that he was leaving after less than a year on the job. It also has to compete with larger social networks such as Facebook and its Instagram service, both of which have been investing more in ephemeral messaging, for ad dollars. “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,” said Snap CEO Evan Spiegel during a conference call with analysts. “But change is always difficult and this past year was no exception.”Snap has rolled out a new version of its Android app to a small percentage of its users, but didn’t say when it will be released more broadly. Spiegel also said during the conference call that the company is trying to get users between the ages of 13 to 34 to spend more time on the app by releasing more original shows on the platform. At the same time, the company is focusing on personalizing the app for users above 34 years old and expanding internationally. In the fourth quarter, the company grew its revenue by 36 percent, to $389.8 million, beating the $377.52 million expected on average by analysts surveyed by Thomson Reuters.Snap reported an adjusted loss, which excludes expenses such as employee stock compensation, of 4 cents a share compared with a loss of 13 cents in the same quarter last year. Analysts expected a loss of 7 cents a share. The company also doesn’t expect daily active users to decline in the first three months of 2019. “The fact that Snap was able to maintain its daily active user base quarter over quarter is a positive sign,” Debra Aho Williamson, an analyst with eMarketer, said in an email. “When Snap finally rolls out its updated Android app, it could move the company back into growth territory.”First published Feb. 5, 1:23 p.m. PTUpdate, 2 p.m.: Adds quote from analyst. 3:17 p.m.: Adds remarks from conference call. CES 2019: See all of CNET’s coverage of the year’s biggest tech show.Everything about Fortnite: What you need to know about the hit game. 0 Internet Services Tech Industry Post a comment Share your voicelast_img read more

Oscar nominees fuel Chinese movie piracy

first_imgOscar nominees fuel Chinese movie piracy546 viewsOscar nominees fuel Chinese movie piracy546 views00:00 / 00:00- 00:00:0000:00Oscar nominees fuel Chinese movie piracy546 viewsBusinessPLEASE NOTE: EDIT CONTAINS MATERIAL THAT WAS ORIGINALLY 4:3 Academy Award-nominated films flooding the market in China – top-quality bootleg versions, that is. It’s Oscar season again. China hasVentuno Web Player 4.50PLEASE NOTE: EDIT CONTAINS MATERIAL THAT WAS ORIGINALLY 4:3 Academy Award-nominated films flooding the market in China – top-quality bootleg versions, that is. It’s Oscar season again. China haslast_img read more

CJI sexual harassment case Woman who accused Gogoi pulls out of inquiry

first_img[Representational Image]The Supreme Court of IndiaA woman who accused the chief justice of India’s Supreme Court of sexual harassment said on Tuesday she would no longer participate in the proceedings of a judges’ panel investigating the case as she does not expect justice.The 35-year-old junior court assistant, whose identity has not been publicly disclosed, wrote a letter to all Supreme Court judges along with an affidavit detailing her allegations against India’s most powerful judge Ranjan Gogoi.He has denied the charges.The woman’s complaint included allegations she and her family were victimised by authorities after she spurned the alleged advances of Gogoi.In her statement on Tuesday, the woman said she was not allowed to have her representative present despite impaired hearing and anxiety. She also said there was no video or audio recording made, and she was not given a copy of her statements on the case from previous days.”I found the atmosphere of the committee very frightening and I was very nervous because of being confronted and questioned by three Supreme Court Judges and without even the presence of my lawyer/support person,” she said.”I felt I was not likely to get justice from this committee and so I am no longer participating in the 3-Judge Committee proceedings.”No immediate comment was available from the Supreme Court.Gogoi has said the accusations showed India’s judiciary was under threat from a wider conspiracy, without elaborating.”There is some bigger force behind the woman,” he told a special hearing on Saturday.last_img read more

Munshiganj BCL president arrested in theft case

first_imgLogo of arrestThe president of the Munshiganj unit of Bangladesh Chhatra League (BCL) was arrested from the district town on Saturday night in a case accusing him of physical assault and theft, reports UNB.BCL is the student wing of ruling Bangladesh Awami League (AL).A certain Rehana Begum filed the case against Faisal Mridha, 28, and five others with Munshiganj sadar police station in the evening.She accused them of barging into her house on 27 June, physical assault, theft of money and jewellery.Gazi Salauddin, officer-in-charge of sadar police station, said it is not a political case. “It’s been filed over some local issues,” he said.last_img read more