Snap Q3 Earnings: Revenue Beat, EPS Beat, $500M Buyback, AI Update And More
Portfolio Pulse from Adam Eckert
Snap Inc reported strong Q3 earnings with revenue and EPS beating estimates. The company announced a $500M buyback and highlighted growth in daily active users and cash flow. Snap's investments in AI and AR are driving innovation, and the company provided a cautious Q4 revenue outlook.
October 29, 2024 | 8:59 pm
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Snap Inc reported better-than-expected Q3 earnings with revenue of $1.373 billion and EPS of 8 cents. The company announced a $500M buyback and highlighted growth in daily active users and cash flow. Snap's investments in AI and AR are driving innovation, but Q4 revenue guidance is cautious.
Snap's Q3 earnings beat expectations, which is positive for the stock. The $500M buyback is likely to support the stock price by reducing share dilution. Growth in daily active users and strong cash flow are positive indicators. However, the cautious Q4 revenue outlook may temper enthusiasm.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100