Snapchat has added 11 million new daily active users over the last quarter, pushing its global user base to 443 million—a 9% increase. Despite this growth, its U.S. market has remained stagnant, with user numbers holding at 100 million annually.
Revenue for Snapchat’s parent company, Snap, rose by 15% year-over-year to $1.37 billion for Q3, slightly exceeding analysts’ expectations. However, Snap posted a $153 million loss for the quarter, a 58% improvement from its $368.3 million loss a year prior. Advertising remains the primary source of revenue for the platform.
For the upcoming holiday quarter, Snap forecasts revenue between $1.51 billion and $1.56 billion, aligning with analysts’ higher estimates. Additionally, Snap’s announcement of a $500 million share buyback has contributed to a 7% increase in its stock during after-hours trading.
