Snap's third quarter financial report: revenue increased by 5% year-on-year to $1.189 billion

On October 25th, Snap released its third quarter financial report for 2023, showing a year-on-year increase of 5% in revenue to $1.189 billion; Net loss increased by 2% year-on-year to $368 million; The adjusted EBITDA was $40 million, a 45% decrease from $72

On October 25th, Snap released its third quarter financial report for 2023, showing a year-on-year increase of 5% in revenue to $1.189 billion; Net loss increased by 2% year-on-year to $368 million; The adjusted EBITDA was $40 million, a 45% decrease from $72.6 million in the same period last year.

Meanwhile, the financial report also shows that Snap's visual communication application Snapchat's global daily active users (DAUs) increased by 12% year-on-year in the third quarter to 406 million.

Snap CEO Evan Spiegel stated that, The company's revenue returned to positive growth in the third quarter, with a year-on-year increase of 5%. At the same time, the optimized cost structure further demonstrates our leveraged business model, bringing in EBITDA Positive growth of. We will continuously optimize our advertising platform to bring higher investment returns to our advertising partners, and continuously improve our marketing strategies to better serve our partners and help customers achieve success

Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])