Revenue Rises 5%, Snapchat Users Grow to 406M ...Middle East

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Snap, parent company of Snapchat, turned in better results than Wall Street expected for the third quarter of 2023, as the company touted improvements to its ad platform. Overall, Snap posted Q3 revenue of $1.19 billion, an increase of 5%, and a net loss of $368 million (or 23 cents per share). Analyst consensus estimates for the company were $1.11 billion in revenue and a net loss of 24 cents per share, according to FactSet. Shares of Snap were up more than 5% in after-hours trading on the beat. Snapchat gained 9 million daily users in the period, to stand at an average of 406 million. That compares with Wall Street’s projection of 405.8 million daily active users for the app, per Fact

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Last updated : 24 October 2023 clock 11:33 PM

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Revenue Rises 5%, Snapchat Users Grow to 406M ...Middle East

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