Snapchat failed to re-accelerate its user growth in the third quarter of 2018. In fact, the social media app, particularly popular among teenagers, even saw its user base shrink for the second consecutive quarter. Between July and September, Snapchat had 186 million daily active users on average, down from 191 million in the first three months of 2018.
As the chart below from Statista illustrates, the negative trend in active users wasn't limited to one particular market. Instead, the platform stagnated in each of the three regions it breaks out separately.
As the chart below from Statista illustrates, the negative trend in active users wasn't limited to one particular market. Instead, the platform stagnated in each of the three regions it breaks out separately.
Related: Twitter's Wings Have Been Clipped As The Social Network Is Struggling to Reignite Its Growth EngineDespite beating analyst expectations in terms of revenue and posting a smaller than expected loss, Snap's share price ended up in a tailspin after spiking briefly on the positive part of the results. It was down by more than 10 percent in early trading on Friday, hitting a new all-time low of $5.80 around 9:30 EDT.
