Snap rises on report of CEO’s profitability goal for 2019

Snapchat-owner’s shares up ~4 pct at $8.10 in premarket, showing signs of recovery after touching their all-time low on Thursday

CEO Evan Spiegel aims to achieve full-year profitability in 2019 by betting on older users, revamped marketing, online news service Cheddar reports, citing a memo

Co says it would also better serve emerging markets users with its forthcoming redesign of its Android app – memo

On Thursday, analysts raised concerns over user declines and competitive threats from Instagram

Daily Snapchat users fell for the first time in Q2 ended August

As of Thursday’s close, SNAP shares have nearly halved in value and have traded under their $17 debut price since March/reuters.com

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