Snap Inc. reported its third-quarter financial results for 2024, revealing a 15% year-over-year increase in revenue to $1.372 billion, up from $1.188 billion in the previous year. Daily Active Users (DAUs) grew by 9% to 443 million, and Average Revenue per User (ARPU) rose to $3.10 from $2.93. Despite these gains, the company experienced a net loss of $153.2 million, which is an improvement from the $368.3 million loss in the prior year. The diluted net loss per share also improved to $(0.09) from $(0.23). Adjusted EBITDA showed significant growth, reaching $132 million compared to $40.1 million in the previous year. Operating activities generated $115.9 million in cash, a substantial increase from $12.8 million in the prior year, and Free Cash Flow turned positive at $71.8 million, compared to a negative $60.7 million previously. The...Show More

Snap Inc. reported its third-quarter financial results for 2024, revealing a 15% year-over-year increase in revenue to $1.372 billion, up from $1.188 billion in the previous year. Daily Active Users (DAUs) grew by 9% to 443 million, and Average Revenue per User (ARPU) rose to $3.10 from $2.93. Despite these gains, the company experienced a net loss of $153.2 million, which is an improvement from the $368.3 million loss in the prior year. The diluted net loss per share also improved to $(0.09) from $(0.23). Adjusted EBITDA showed significant growth, reaching $132 million compared to $40.1 million in the previous year. Operating activities generated $115.9 million in cash, a substantial increase from $12.8 million in the prior year, and Free Cash Flow turned positive at $71.8 million, compared to a negative $60.7 million previously. The company's cash reserves, including cash equivalents and marketable securities, stood strong at $3.2 billion as of September 30, 2024. Snap Inc. has realigned its strategic priorities to focus on community growth, revenue diversification, and augmented reality investments. However, macroeconomic challenges such as labor shortages, supply chain disruptions, and inflation, along with increased competition and platform policy changes, have impacted advertising revenue and present ongoing risks. The company's future plans include rigorous investment prioritization and continued product engagement to drive advertiser success.