Snap Inc , owner of the single-view messaging app Snapchat, on Tuesday beat Wall Street's third-quarter forecasts for user growth and revenue as more people signed up to chat with friends and family during the coronavirus pandemic.
Daily active users , a widely watched metric by investors and advertisers, rose 18per cent year-over-year to 249 million in the quarter ended Sept. 30, the company said in a statement. Analysts had expected 244 million, according to IBES data from Refinitiv.Revenue, which Snap earns mainly from selling ads on the app, jumped 52per cent to US$679 million, widely beating analysts' consensus estimate of US$555.9 million.
That reputation served Snap well in the third quarter, when over 1,000 advertisers boycotted larger rival Facebook Inc for the month of July in response to issues of hate speech on the platform, and as popular short-form video app TikTok faced the possibility of a U.S. ban over national security concerns.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Audiences snap up tickets to SRT's Tuesdays With Morrie and Wild Rice's An Actress PreparesSINGAPORE - Tickets to the first two theatre productions to be staged since venues were closed on March 26 are sold out.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
IBM revenue edges past estimates on cloud strengthInternational Business Machines Corp edged past Wall Street estimates for quarterly revenue on Monday, bolstered by higher demand for its cloud ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
IBM posts double-digit cloud revenue growth; says customers deferring some projectsInternational Business Machines Corp edged past Wall Street estimates for quarterly revenue on Monday, bolstered by higher demand for its cloud ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Founder-led firms outpacing CEO-led ones in market recoveryTechnology companies led by their founders have been the standout winners in share price performance and profit growth this year, beating ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Half of India's population may have had Covid-19 by February, govt panel estimates
Source: TODAYonline - 🏆 1. / 99 Read more »
Half of India's population may have had coronavirus by February, government panel estimatesIndia has so far reported 7.55 million cases of the coronavirus and is second only to the United States in terms of total infections.. Read more at straitstimes.com. Dayyyummm dangerrrr dahhhh deeiiiii Hahaha 🤣 That's Mother Nature controlling the population, when human beings refused to do it.
Source: The Straits Times - 🏆 8. / 63 Read more »