As a long-time user of Snapchat, I must say that this week’s Q3 2024 earnings results have left me with a bittersweet feeling. On one hand, it’s always gratifying to see my favorite platform defy expectations and beat EPS, but on the other, it’s a little disappointing when the revenue falls short of the mark.
This week, Snapchat joined other tech firms in disclosing their third-quarter financial results for 2024. Their performance was a blend of achievements and shortcomings. While they surpassed earnings per share (EPS) projections for the quarter, they fell slightly shy of analyst estimates.
This week, I stumbled upon Snapchat’s Q3 2024 earnings report on their investor relations site. To my surprise, they raked in approximately $1.373 billion, slightly below the projected $1.4 billion by Wall Street analysts. However, when it came to EPS, they exceeded expectations, posting an EPS of $0.08 per share, compared to the anticipated $0.05 per share by analysts.
Although Snapchat failed to meet its projected revenue for the quarter, it’s worth noting that its revenue is still increasing compared to previous years. Specifically, Snapchat generated $1.373 billion in Q3 2024, marking a 15% increase from the $1.19 billion earned in Q3 2023. Given these figures, it seems that Snapchat is managing to attract significant revenue. Moreover, the app boasts a substantial userbase of over 443 million Daily Active Users (DAUs) as of Q3 2024.
Although Snapchat might not be the most popular social media network currently, it continues to maintain its presence within the social sphere. Keep an eye out for updates on this intriguing platform as we await developments from Snapchat. Rest assured, you can find all the latest news and insights right here at Shacknews.
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2024-10-30 00:57