Snap's revenue reached $1.37 billion in Q3, a 15% YoY increase, driven by direct-response ads and the Snapchat+ subscription service, surpassing Wall Street estimates.
Despite a strong 15% revenue increase and over double the active advertisers, Snap faces weaker demand in consumer discretionary sectors like technology and retail.
Snapchat’s CEO highlighted investments in augmented reality and artificial intelligence, projecting 11% to 15% revenue growth for Q4, showcasing commitment to long-term strategies.
Snapchat+ subscription service grew subscriber numbers to 12 million, with DAUs reaching 443 million globally, indicating broader user engagement and milestoning significant content interaction.
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