Snap exceeded revenue and user growth estimates, announces $500 million buyback program

From Investing.com: 2024-10-29 19:20:47

Snap, the parent company of Snapchat, exceeded Wall Street expectations with strong revenue and user growth. They announced a share repurchase program of up to $500 million. Revenue in Q3 grew 15% to $1.37 billion, surpassing analyst estimates. Daily active users increased to 443 million, beating expectations. Snap also reported adjusted earnings per share of 8 cents, above the 5 cent estimate. CEO Evan Spiegel mentioned a new app redesign that simplifies Snapchat and has increased usage among new users.



Read more at Investing.com: Snap beats revenue and user growth estimates, announces $500 million buyback By Reuters