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Snap has introduced its monetary outcomes for the third quarter of 2021, the corporate noticed its income enhance by some 57% over the earlier yr.
The corporate reported income of $1.07 billion for the quarter which was barely lower than the $1.10 billion estimate.
“Snap celebrated its tenth anniversary this quarter, and we’re excited concerning the long-term alternative and potential for our enterprise, as we grew our group to 306 million each day energetic customers, and grew our income 57% year-over- yr to succeed in $1.067 billion for the quarter,” mentioned Evan Spiegel, CEO. “We’re now working on the scale essential to navigate important headwinds, together with adjustments to the iOS platform that affect the way in which promoting is focused, measured, and optimized, in addition to world provide chain points and labor shortages impacting our companions. We are going to proceed to concentrate on delivering robust outcomes for our promoting companions and innovating to broaden the capabilities of our platform and higher serve our group.”
The next forward-looking statements replicate our expectations for the fourth quarter of 2021 as of October 21, 2021, and are topic to substantial uncertainty. This steerage assumes fixed international forex charges, and amongst different issues, that no enterprise acquisitions, investments, restructurings, or authorized settlements are concluded within the quarter. Our outcomes are based mostly on assumptions that we consider to be affordable as of this date, however could also be materially affected by many elements, as mentioned beneath in “Ahead-Trying Statements.”
You will discover out extra particulars concerning the full monetary outcomes for Snap over on the firm’s web site on the hyperlink beneath.
Supply Snap, Techmeme
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