Snap's revenue in the third quarter grew 15% year-over-year to $1.37 billion, surpassing Wall Street's expectations and indicating effective improvements in ad performance and user engagement.
Despite initially facing an 8% drop in after-market trading, Snap's shares rebounded by 10%, highlighting investor confidence following the announcement of strong user growth and a $500 million share repurchase.
The company's investment in machine learning to enhance ad targeting has allowed Snap to attract advertisers, especially providing easier access for small and medium businesses to leverage the platform.
Snap's daily active users increased 9% year-over-year to reach 443 million, exceeding analyst projections and reflecting the company's ongoing efforts to engage and grow its user base.
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