Snap Inc.’s revenues rose 52% year-over-year to $679 million while operating cash flow increased 28% year-over-year to $(55) million in Q3 2020, according to the company’s press release. The company’s daily active users rose 18% year-over-year to 249 million.
- Net loss was $200 million in Q3 2020, down from $227 million last year.
- Free cash flows rose by $15 million to $(70) million in Q3 compared to the comparable quarter.
- Common shares outstanding and underlying stock-based awards were 1,624 million as of September 30, 2020, up from 1,565 million last year.
- The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) were $56 million compared to $(42) million last year.
- Total daily time spent by Snapchatters watching shows rose by over 50% year-over-year basis, and the company continues to invest in the discover platform for enriched entertainment content.
- Snap’s adoption of augmented reality is happening faster than the company anticipated.
- Snap Inc. did not provide guidance for Q4 2020 due to the ongoing COVID-19 pandemic.
Snap Inc. stock is gaining on quarterly results. SNAP: NYSE is up 23.97%