Snapchat stems losses as user numbers stop shrinking

Snapchat's chief financial officer leaves after nine months in latest executive departure

Snapchat has stemmed months of shrinking numbers, surprising detractors who feared that the messaging app had entered a death spiral. 

The teen-friendly photo-sharing app lost five million users between March and September last year, but its latest financial results showed that its audience had stabilised at 186m daily users. 

Shares in its parent company, Snap, surged by 19pc in after-market trading as it reported higher revenue and a much smaller operating loss than analysts had anticipated.

The company said it had made $390m (£302m) in revenue in the last three months of 2018, up 36pc from the previous year, and that its losses had nearly halved from $350m to $192m.

Its revenue growth was…

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