Snap Q4 Users Dip As It Trims Marketing To Focus On Profit, Shares Rise

Snap saw its daily active users fall by 3 million to 474 million in the fourth quarter as the social media platform said it substantially reduced marketing investments “to focus on more profitable growth.” Net income surged to $45.2 million from the $9.1 million the year before. The shares, which can be volatile after earnings, rose in after-market trading on the numbers. “Our Q4 results began to reflect the impact of our strategic pivot toward profitable growth, translating into revenue diversification an ...