Snap squeaks out unexpected, adjusted profit for the third quarter, revenue up 52%

  • 📰 CNBC
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

Snap on Tuesday released its third-quarter earnings results, reporting revenue of $679 million, up 52% compared to a year ago.

. That figure is up nearly 19% compared to the 210 million daily users the company reported a year prior.

Snap said it used the third quarter as an opportunity to engage with brands that were looking "to align their marketing efforts with platforms who share their corporate values."in which more than 1,000 advertisers paused ads on the social network during the month of July in boycott of the company's hate speech and misinformation policies.

Snap expects year-over-year revenue growth of 47% to 50% for the fourth quarter, Snap chief financial officer Derek Andersen said in prepared remarks. The company also expects to reach approximately 257 million DAUs in the fourth quarter, Andersen said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Miles Ketley, Veteran U.K. Media Executive & CEO of Stolen Picture, Dies at 52Veteran U.K. media executive Miles Ketley, who most recently served as CEO of Stolen Picture, died on Oct. 12. Colleagues remember him as 'a modern-day warrior poet' who created new ways of doing business.
Source: Variety - 🏆 108. / 63 Read more »

52 New Beauty Products That Will Change Your LifeEvery single one is a game-changer.
Source: marieclaire - 🏆 102. / 63 Read more »

Khloé Kardashian trolls Kim for odd mistake in G-string birthday snapThe Keeping Up With The Kardashians star took to Instagram to show off her risque outfit ahead of her 40th birthday, but as fans complimented her, sister Khloé mocked her
Source: Mirror Celeb - 🏆 476. / 51 Read more »

Khloe Kardashian infuriates fans with changing face in striking new family snapEagle-eyed fans couldn’t help but find fault with Khloe’s seemingly ever-changing face in her recent upload
Source: Mirror Celeb - 🏆 476. / 51 Read more »

Gigi Hadid's mum Yolanda breaks silence on birth of granddaughter in sweet snapGigi and boyfriend Zayn Malik announced the birth of their first child last month in an adorable picture on Instagram
Source: Mirror Celeb - 🏆 476. / 51 Read more »

Insurer Travelers posts better-than-expected Q3 earningsInsurer Travelers Cos. Inc. undefined posted stronger-than-expected profit and revenue for the third quarter Tuesday, despite the impact of high catastrophe...
Source: MarketWatch - 🏆 3. / 97 Read more »