Snap earnings Q4 2018

Snap was able to maintain its user base at 186 million daily active users, flat from the previous quarter. Analysts were expecting the company’s user base to continue shrinking as it had over the past two quarters.

The promising results come at a crucial time for the Los Angeles tech company, which had a rough fourth quarter.

The company saw rival Instagram emerge as the most popular social platform among teenagers, according to Piper Jaffray report in October. This change in ranking has coincided with a continued decrease in Snapchat’s user base.

Snap this quarter also dealt with a number of key executive departures, including that of Chief Financial Officer Tim Stone, who the company announced last month will be leaving the company. Stone joined Snap less than a year ago.

Disclosure: CNBC parent
NBCUniversal is an investor in Snap
.

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