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Snap Q3 Daily Active Users Rise 18% From Year Ago, Sales Beat Expectations, Up 52%

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deadline.com
deadline.comdeadline.com:

Jill Goldsmith Co-Business EditorSnapchat parent Snap beat expectations said daily active users rose 18% to 249 million last quarter from the year before.

Revenue jumped 52% to nearly $679 million and the company posted a profit of one cent a share. Wall Street had anticipated a loss.

Snap is the first major name in the internet space this earnings season to give a glimpse into advertising trends during the quarter ended in September.

It’s been pushing into direct response ads, the most lucrative. The stock rallied ahead of the numbers, flirting with an all-time high on Monday and surged nearly 20% in after hour trading Tuesday on the earnings numbers posted after market close.

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