Reported 28 days ago
Snap Inc. surpassed Wall Street expectations for quarterly revenue and user growth, reporting a 15% year-over-year revenue increase to $1.37 billion and a 9% growth in daily active users to 443 million. The company also introduced a $500 million share repurchase program. Notably, Snap's investments in machine learning and new ad formats have attracted more advertisers, although demand from large companies has been inconsistent. Looking ahead, Snap forecasts fourth-quarter revenue between $1.51 billion and $1.56 billion, coinciding with the holiday shopping season.
Source: YAHOO