Snapchat comeback

sHARes in snapchat owner snap shot up on signs of a turnaround.

investors piled back in to the photo-messaging business following its results on tuesday – losses narrowed to £148m in the final three months of 2018 from £270m a year earlier. snap arrested the fall in Apple users, who download the snapchat app on iphones. And moves to launch its app for Android phones have been welcomed. the firm was knocked by a botched redesign of its app, and when reality tv star Kylie Jenner said she was ‘over’ snapchat, more than £1bn was wiped off its market value.

At the end of December, snapchat had 186m daily active users. shares rose 24.8pc yesterday to $8.80.