Snap’s business is showing signs of life
Illustration by Alex Castro / The Verge Snap’s business has been on life support for a while now, with Apple’s ad tracking changes on iOS, competition from TikTok, and a combination of other factors leading to a collapse in its revenue growth. That said, all is not lost: based on the third quarter earnings results that Snap announced on Tuesday, its ads business appears to finally be on the upswing. Total revenue grew to nearly $1.2 billion, an increase of 5 percent from the same time last year. Snap is still a money-losing company, though. It posted a net loss of over $368 million for the quarter, slightly higher than the year-ago period. While the return to revenue growth is certainly a welcome sign, Snap’s management team continues to be in a state of flux. Jerry Hunter,... Continue reading…
Illustration by Alex Castro / The VergeSnap’s business has been on life support for a while now, with Apple’s ad tracking changes on iOS, competition from TikTok, and a combination of other factors leading to a collapse in its revenue growth. That said, all is not lost: based on the third quarter earnings results that Snap announced on Tuesday, its ads business appears to finally be on the upswing. Total revenue grew to nearly $1.2 billion, an increase of 5 percent from the same time last year. Snap is still a money-losing company, though. It posted a net loss of over $368 million for the quarter, slightly higher than the year-ago period.While the return to revenue growth is certainly a welcome sign, Snap’s management team continues to be in a state of flux. Jerry Hunter,…
Emily Brown
Houston
Houston
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