That reputation served Snap well in the third quarter, when over 1,000 advertisers boycotted larger rival Facebook Inc for the month of July in response to issues of hate speech on the platform, and as popular short-form video app TikTok faced the possibility of a U.S. Snap has positioned itself as a safe place for brands to advertise because it focuses on one-on-one messages which disappear once they are read. Revenue, mainly from selling ads on the app, jumped 52% to $679 million, widely beating analysts' consensus estimate of $555.9 million. The company said it expected continued momentum in user growth and forecast about 257 million daily active users in the fourth quarter, exceeding analysts' current estimate of 249.81 million.
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