Financial Performance - Net loss for the three months ended September 30, 2023, was $153.247 million, compared to a net loss of $368.256 million for the nine months ended September 30, 2023[21]. - Revenue for Q3 2024 was $1,372,574, a 15.5% increase from $1,188,551 in Q3 2023[23]. - Net loss for Q3 2024 was $153,247, compared to a net loss of $368,256 in Q3 2023, representing a 58.5% improvement[25]. - Operating loss decreased to $173,210 in Q3 2024 from $380,063 in Q3 2023, showing a 54.4% reduction[23]. - Total costs and expenses for Q3 2024 were $1,545,784, down from $1,568,614 in Q3 2023, a decrease of 1.5%[23]. - Basic net loss per share for Q3 2024 was $(0.09), an improvement from $(0.23) in Q3 2023[23]. - Adjusted EBITDA for Q3 2024 was $132.0 million, compared to $40.1 million in the same period last year[129]. - Free Cash Flow improved to $71.8 million, compared to a negative $60.7 million in Q3 2023[130]. - The increase in revenue was primarily driven by growth in advertisers and higher subscription revenue due to an increase in the number of subscribers[162]. - The company anticipates continued growth in revenue driven by optimization efficiencies and improvements in auction-based advertising demand[162]. Cash Flow and Liquidity - Cash flows from operating activities provided $115.872 million for the three months ended September 30, 2023, compared to $12.781 million for the nine months ended September 30, 2023[21]. - Cash, cash equivalents, and restricted cash at the end of the period were $968.393 million, down from $1.065 billion at the beginning of the period[21]. - Cash and cash equivalents decreased to $964,967 as of September 30, 2024, from $1,780,400 at the end of 2023[26]. - As of September 30, 2024, the company held $3.2 billion in cash, cash equivalents, and marketable securities[130]. - The company believes its existing cash balance is sufficient to fund ongoing working capital and investment requirements for at least the next 12 months[189]. User Metrics - Average Daily Active Users (DAUs) are calculated by adding the number of DAUs for each day of the quarter and dividing by the number of days in that quarter[14]. - Daily Active Users (DAUs) reached 443 million, reflecting a 9% year-over-year growth[128]. - Average Revenue Per User (ARPU) increased to $3.10, up from $2.93 in the prior year[128]. Expenses and Costs - Depreciation and amortization for the three months ended September 30, 2023, was $38.850 million, with stock-based compensation totaling $260.229 million[21]. - Research and development expenses for Q3 2024 were $412,791, down from $494,559 in Q3 2023, a decrease of 16.5%[23]. - Sales and marketing expenses for the three months ended September 30, 2024, were $273,107 thousand, an 8% decrease from $297,251 thousand in the same period of 2023[165]. - General and administrative expenses for the three months ended September 30, 2024, were $220,979 thousand, nearly unchanged from $221,051 thousand in the same period of 2023[166]. Investments and Acquisitions - The total purchase consideration for business acquisitions in 2023 was $73.1 million, including $56.3 million in cash and $12.6 million in other liabilities, with $42.8 million allocated to goodwill[58]. - As of September 30, 2024, the carrying amount of goodwill increased to $1,693.946 million, reflecting a foreign currency translation adjustment of $2.119 million[59]. - The total intangible assets as of September 30, 2024 amounted to $361.451 million, with a net value of $98.920 million after accumulated amortization of $262.531 million[61]. Debt and Financing - In May 2024, the company issued $750.0 million in convertible senior notes due in 2030, with net proceeds of $671.5 million after costs[63]. - The company repurchased $100.0 million of the 2025 Notes and $351.2 million of the 2026 Notes for a total cash price of $440.7 million, resulting in an $8.8 million gain on extinguishment[85]. - As of September 30, 2024, the total principal amount of Convertible Notes was $3.69 billion, with a net carrying amount of $3.64 billion after unamortized debt issuance costs[87]. - Total interest expense for the three months ended September 30, 2024, was $4.49 million, compared to $3.94 million for the same period in 2023, reflecting an increase of approximately 14%[89]. Restructuring and Workforce - The company completed a restructuring plan in Q2 2024, resulting in a global headcount reduction of approximately 10%[121]. - Total restructuring charges for the nine months ended September 30, 2024, amounted to $70,157,000[123]. - The company initiated a wind down of its AR Enterprise business, resulting in a 3% reduction in global employee headcount and $18.6 million in pre-tax restructuring charges[124]. Tax and Compliance - Income tax expense for the three months ended September 30, 2024, was $8.3 million, compared to $5.8 million for the same period in 2023[118]. - The effective tax rate for the three months ended September 30, 2024, was (5.7)%, compared to (1.6)% for the same period in 2023[173]. Strategic Investments - The carrying value of strategic investments as of September 30, 2024, was $188.6 million, down from $195.3 million as of December 31, 2023[108]. - Strategic investments recognized a net loss of $312,000 for the three months ended September 30, 2024, compared to a loss of $270,000 for the same period in 2023[110]. - Unrealized losses on strategic investments still held amounted to $372,000 for the three months ended September 30, 2024, compared to $400,000 for the same period in 2023[110].

Q3 2024 Earnings Slides October 29, 2024 Forward-Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding guidance, our future results of operations or financial condition, future stock repurchase programs or stock dividends, business strategy and plans, user growth and ...

Snap (SNAP) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this company behind Snapchat would post earnings of $0.02 per share when it actually produced earnings of $0.02, delivering no surprise.Over the last four quarters, the company has sur ...

The head of Snapchat operator Snap, Evan Spiegel, presents the new generation of Spectacles in Los Angeles on Sept. 17, 2024. Snap reported better-than-expected third-quarter results on Tuesday, but issued light fourth-quarter guidance. The stock jumped more than 10% in extended trading. Here is how the company did: Earnings per share: 8 cents adjusted vs. 5 cents expected, according to LSEG Revenue: $1.37 billion vs. $1.36 billion expected, according to LSEG Global daily active users: 443 million vs. 441 m ...

Wall Street analysts forecast that Snap (SNAP) will report quarterly earnings of $0.05 per share in its upcoming release, pointing to a year-over-year increase of 150%. It is anticipated that revenues will amount to $1.35 billion, exhibiting an increase of 13.9% compared to the year-ago quarter. The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projectio ...

Snap (SNAP) closed at $10.45 in the latest trading session, marking a +1.75% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.03%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, added 0.56%. Shares of the company behind Snapchat have depreciated by 2.75% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.65% and the S&P 500's gain of 1.39%. The investment community will be closely monitoring the ...

Snap (SNAP) closed the latest trading day at $10.27, indicating a +1.18% change from the previous session's end. This change outpaced the S&P 500's 0.22% gain on the day. On the other hand, the Dow registered a loss of 0.33%, and the technology-centric Nasdaq increased by 0.76%.Prior to today's trading, shares of the company behind Snapchat had lost 4.15% over the past month. This has lagged the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 1.47% in that time.Analysts and investor ...

Snap (SNAP) is set to report third-quarter 2024 results on Oct. 29.For third-quarter 2024, Snap expects total revenues between $1.335 billion and $1.375 billion, implying year-over-year growth of 12-16%. Adjusted EBITDA is expected between $70 million and $100 million.The Zacks Consensus Estimate for revenues is currently pegged at $1.35 billion, indicating a 13.9% increase from the year-ago quarter’s reported figure.The consensus mark for earnings has remained unchanged at 5 cents per share in the past 30 ...

Snapchat (NYSE: SNAP ) will report earnings on October 29th. I'm initiating it with a buy before earnings. Despite the soft revenue guidance for Q3, further exacerbating what I'd call shaky investor confidence with an over 18% dip afterI’m a retired Wall Street PM specializing in TMT; my educational background is a bachelor's in Finance and Economics, and an MBA from Columbia, after which I directly began my career on Wall Street. Since kickstarting my career, I’ve spent over two decades in the market navig ...

Snapchat (NYSE: SNAP ) has long defied the old social media rules, failing to grow while avoiding significant deterioration. Usually, social media is a "grow or die" business, as the value of a platform rises and declines proportionally to its number of active users. ShouldHarrison is a financial analyst who has been writing on Seeking Alpha since 2018 and has closely followed the market for over a decade. He has professional experience in the private equity, real estate, and economic research industry. Har ...