Snapchat grew to more than 400 million users, the company announced in its third-quarter earnings report.
in its third-quarter earnings report. The app added nine million new users in the last quarter, bringing its total daily active users to 406 million, an increase of 12 percent from last year, the company said.of its workforce in an effort to cut costs as advertising revenue slowed. Those cuts, along with new product features, are apparently starting to pay off.
The company reported $1.19 billion in revenue for the quarter, an increase of 5 percent from last year and better than Wall Street analysts expected, . In a statement, Snap pointed to its subscription service, Snapchat+, as a key part of its strategy to grow its non-advertising sources of revenue. Snap announced last month that Snapchat+, which offers users exclusive and experimental features for $4 a month, had reachedchatbot, which rolled out to all Snapchat users in April, has reached more than 200 million people who have collectively exchanged more than 20 billion messages with the OpenAI-powered chatbot.
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