Snap Reports Q4 User Decline, Profit Growth

Snap reported Q4 results saying daily active users fell by 3 million to 474 million, while net income rose to $45.2 million from $9.1 million a year earlier. Revenue increased 10% to $1.72 billion with advertising at $1.48 billion and subscription revenue up 62% to $232 million as the company cut marketing to prioritize profitable growth and AR investment.