Snap Inc. reported Q3 revenue of $1.373bn, exceeding expectations, with a 9% increase in DAUs to 443m and $153m net loss.
Snap Inc. reported third-quarter revenue of $1.373 billion, exceeding expectations, with an 8-cent adjusted earnings per share, surpassing the forecast of 5 cents. Daily active users grew by 9% to 443 million. Despite a narrower net loss of $153 million, the company issued cautious fourth-quarter guidance of $1.51 to $1.56 billion. Snap also announced a $500 million stock buyback program, attributing its growth to advancements in AI and AR technologies.
October 29, 2024
34 Articles