Content overview: “Snap Swings to $56M Profit in Q3 as Revenue Jumps 14% to $1.72B, but Stock Slides”. reported a sharp turnaround in its third quarter, swinging to a net income of $56 million from a net loss of $104 million a year earlier. Revenue climbed 14% year-over-year to $1.72 billion, a sign that CEO Evan Spiegel’s push to build a more profitable business is gaining traction. The company also said Snapchat daily active users reached 495 million, up 4% from the prior year.
Despite the strong financials, Snap’s stock took a hit after the results, suggesting investors may have been spooked by softer guidance or slower user growth than some had hoped. The company is set to roll out SPECS, its new augmented reality glasses, which could open a new hardware revenue stream but also carries execution risk. For the complete material, the listing points back to the source inside the network.