Snap Inc. reported Q3 2024 revenue of $1.37 billion, up 15% year-over-year, while net loss narrowed to $153.2 million from $368.3 million in Q3 2023. Daily active users (DAUs) grew 9% year-over-year to 443 million, with average revenue per user (ARPU) increasing to $3.10 from $2.93 in the prior year. The company's advertising business showed resilience with growth in advertisers and optimization efficiencies.Operating expenses decreased to $1.55 billion from $1.57 billion year-over-year, primarily driven by lower research and development costs and reduced sales and marketing expenses. The company maintained strong liquidity with $3.2 billion in cash, cash equivalents, and marketable securities at quarter-end. Free Cash Flow improved significantly to $71.8 million compared to negative $60.7 million in the prior year.Looking ahead, Snap continues to focus on growing its community engagement, diversifying revenue streams, and investing in augmented reality. The company launched new initiatives including testing Simple Snapchat, a simplified version of its service, while facing ongoing challenges from platform policy changes affecting advertising targeting and measurement capabilities.

Snap Inc. reported Q3 2024 revenue of $1.37 billion, up 15% year-over-year, while net loss narrowed to $153.2 million from $368.3 million in Q3 2023. Daily active users (DAUs) grew 9% year-over-year to 443 million, with average revenue per user (ARPU) increasing to $3.10 from $2.93 in the prior year. The company's advertising business showed resilience with growth in advertisers and optimization efficiencies.Operating expenses decreased to $1.55 billion from $1.57 billion year-over-year, primarily driven by lower research and development costs and reduced sales and marketing expenses. The company maintained strong liquidity with $3.2 billion in cash, cash equivalents, and marketable securities at quarter-end. Free Cash Flow improved significantly to $71.8 million compared to negative $60.7 million in the prior year.Looking ahead, Snap continues to focus on growing its community engagement, diversifying revenue streams, and investing in augmented reality. The company launched new initiatives including testing Simple Snapchat, a simplified version of its service, while facing ongoing challenges from platform policy changes affecting advertising targeting and measurement capabilities.