Snap Returns to Revenue Growth After Two Quarters of Declining Sales
The company behind the popular social-media app Snapchat is seeing improvements in ad spending, but cautions that the Israel-Hamas war could temper its recovery.
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Snap, parent company of popular social media app Snapchat, reported positive revenue growth for the third quarter, after two consecutive quarters with declining sales. The company attributed this to improvements made in its advertising platform.
Snap, one of the first social media platforms to announce earnings, announced Tuesday that its third-quarter revenues rose by 5% over the previous year to $1.2 billion. FactSet said that analysts had expected a decline of 1.6%.