10/21/2021, 10:12 PM (Source: TeleTrader)
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Chart for: Snap Inc

Snap: Q3 revenue up 57% YoY to $1.07 billion

Snap Inc. reported on Thursday that its revenue jumped 57% year over year to reach $1.07 billion in the third quarter of fiscal 2021.

Operating loss grew 8% from the last year's third quarter to $181 million in the third trimester in 2021, while the net loss dropped 64% to $72 million. Diluted net loss per share attributable to common stockholders came in at $0.05 in the three-month period that ended on September 30, 2021, after standing at $0.14 a year ago. The number of Daily Active Users (DAU) rose 23% on a yearly basis to 306 million in the third quarter.

“We're now operating at the scale necessary to navigate significant headwinds, including changes to the iOS platform that impact the way advertising is targeted, measured, and optimized, as well as global supply chain issues and labor shortages impacting our partners," CEO Evan Spiegel noted.

The company's stock plummeted 24.50% in after-hours trading following the release of the report.

Baha Breaking News (BBN) / MS