Snap Q3 Beats Street As Sales Rise, Losses Shrink & Snapchat Sees 443 Million Daily Active Users

deadline.com:

Snap shares jumped after earnings as the company saw third quarter revenue rise 15% to over $1.37 billion, beating Wall Street estimates.

Daily active users (DAUs) rose 9% to 443 million, and total time spent watching content increased 25% year-over-year, Snap said.

Snapchat is ad driven and the company said the number of active advertisers doubled from the year before. The social media platform’s net loss for the three months ended in September narrowed by over half to $158 million (from negative $368 million in the year earlier quarter).

And free cash flow, a key metric for investors, was $72 million, compared with negative $61 million. The numbers follow a glum second quarter when the company missed estimates and the stock tumbled.