Snap just reported its earnings for the third quarter and the numbers are mostly in line with what Wall Street was expecting. Daily users reached 363 million, a 19 percent increase that is much better than growth rates for Facebook and Twitter. Revenue only grew 6 percent to $1.13 billion and Snap remains unprofitable.

Snap invented the Stories format but now it’s saying that users are engaging less with their friends’ Stories, which is a problem for its business since ads are placed between Stories. The company laid off 20 percent of its employees recently in an attempt to cut costs and get to profitability faster.