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Snapchat continued to add daily active users during the fourth quarter of 2019, but parent company Snap Inc. was still in the red for the quarter, posting a net loss of $241 million.
Snap reported $561 million in revenue for the quarter, up 44% year-over-year. However, the company’s net loss was $49 million higher than in the fourth quarter of 2018, due largely to a $187.5 million settlement of a class-action suit by investors following its initial public offering in March 2017.