lllustration: Greg Ruben/Axios; Photo: Mark Lennihan/AP

Snapchat reported Tuesday that it lost over 3 million daily active users in the second quarter of 2018, the first time the company has ever reported a loss in its user base.

Why it matters: The company blames its very controversial redesign earlier this year for the drop.

In total, the company saw a decrease of 2% of its user base from last quarter. CEO Evan Spiegel says that monthly active users, a figure Snapchat doesn't publicly report, is growing.

The upside: The company's stock was still up in after-hours trading, as a loss in users did not result in missing its revenue or earnings goals.

  • Revenue was up 44% to $262 million in Q2 2018, compared to revenue of $182 million in Q2 2017.
  • Average revenue per user (ARPU) increased 34% to $1.40 in Q2 2018, compared to $1.05 in Q2 2017.

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Updated 7 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 33,560,877 — Total deaths: 1,006,564 — Total recoveries: 23,297,593Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 7,190,036 — Total deaths: 205,974— Total recoveries: 2,809,674 — Total tests: 103,155,189Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. Politics: 7 former FDA commissioners say Trump is undermining agency's credibility
  5. States: NYC's coronavirus positivity rate spikes to highest since June.
  6. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  7. World: U.K. beats previous record for new coronavirus cases.
  8. Work: United States of burnout — Asian American unemployment spikes amid pandemic
Mike Allen, author of AM
Updated 25 mins ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?

Pundits react to a chaotic debate: “What a dark event we just witnessed”

The first presidential debate between President Trump and Joe Biden in Cleveland on Tuesday night was a shouting match, punctuated by interruptions and hallmarked by name-calling.

Why it matters: If Trump aimed to make the debate as chaotic as possible with a torrent of disruptions, he succeeded. Pundits struggled to make sense of what they saw, and it's tough to imagine that the American people were able to either.