Snap Posts Sluggish Q3 2022 Amid Attempts to Diversify From Relying on Ads

Snapchat totaled 363 million daily active users at the end of the period, up 19% year-over-year

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For the first time since Snap Inc. went public in 2017, it posted quarterly year-over-year revenue growth in the single digits, as its third-quarter-2022 total of $1.13 billion was up just 6% versus the third quarter of 2021.

The company said in its letter to investors Thursday, “Our business continued to face significant headwinds in the third quarter, and we took action to further focus our business on our three strategic priorities: Growing our community and deepening their engagement with our products; reaccelerating and diversifying our revenue growth; and investing in augmented reality.



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