From Financial Modeling Prep: 2024-10-29 20:32:00

Snap (NYSE:SNAP) saw its shares surge more than 10% in after-hours trading following the release of its third-quarter results. The company reported adjusted earnings per share of $0.08 on revenue of $1.37 billion, surpassing expectations. Daily active users grew by 37 million to reach 443 million, exceeding estimates, and total time spent on the platform increased by 25%.

In addition to its strong financial performance, Snap also announced a $500 million share buyback program. This program will allow the company to repurchase up to $500 million of its common stock, signaling confidence in its future growth prospects.



Read more at Financial Modeling Prep:: Snap Shares Rise 10% on Q3 Earnings Beat and $500M…