Snap Swings to Third-Quarter Profit as Ad Revenue Growth Slows
Snap reported a third-quarter profit of $56.5 million, or 3 cents a share, versus a year-earlier loss of $103.5 million, or 6 cents a share. Revenue was higher, while advertising revenue growth slowed sequentially.
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09:52:19 PM UTC
SquawkNews
WASHINGTON (dpa-AFX) - Snap Inc. (SNAP), the parent company of Snapchat, on Wednesday reported a swing to third-quarter profit from a year-ago loss, driven largely by 14% revenue growth and stronger operating performance.Net income was $56.5 million, or $0.03 per share, compared with a net loss of…