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10/20, 10:12 PM (Source: TeleTrader)
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Chart for: Snap Inc

Snap posts Q3 revenue at $679M, up 52% YoY

Snap Inc. announced on Tuesday that its revenues in the third fiscal quarter amounted to $679 million, surging 52% annually to beat analysts' estimates. Net loss landed at $199,853 in the same trimester, declining 12% year-over-year and translating into a diluted net loss per share of $0.14.

Meanwhile, Snap's number of daily active users soared 18% year-on-year to 249 million over three months ending September.

"Our focus on delivering value for our community and advertising partners is yielding positive results during this challenging time. We’re excited about the growth of our business in Q3 as we continue to make long-term investments in our future," Snap CEO Evan Spiegel commented on the results.

The company's shares jumped over 16% in after-hours trading following the earnings release.

Breaking the News / GA