Users on average continue to spend more than 30 minutes on Snapchat each day.
Snap Inc received a vote of confidence from a billionaire investor and reported record revenue from outside North America, factors that helped soften the blow of its first-ever drop in daily users.
The social media company said its shift toward a self-serve model for advertisers was paying off and blamed a redesign of its app for denting user numbers. Still, analysts expressed concern that advertisers and users prefer Facebook Inc's Instagram app over Snapchat.
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