Snap Inc.
- Snap Inc. jumped 4.7% to $10.15 after the online chat platform operator reported better-than-expected quarterly results.
Snapchat's parent said third-quarter revenue increased 5% to $1.19 billion from $1.12 billion, net loss increased 2% to $368 million from $359.5 million, and diluted loss per share edged up to 22 cents from 20 cents a year ago.
The company said daily active users increased by 12% to 406 million, and the board of directors approved a $500 million stock repurchase plan over the next 12 months.
Oct 25, 2023
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