![]() ![]() Research and development expenses contracted 12.4% year over year to $494.6 million.Īdjusted EBITDA was $40.1 million, down 44.8% from the year-ago quarter. Sales and marketing expenses increased 10% year over year to $297.3 million and general and administrative expenses declined 15.7% year over year to $221.1 million. In the quarter under review, the cost of revenues on a non-GAAP basis increased 19.1% year over year to $555.8 million.Īdjusted operating expenses were $1.01 billion, down 7.7% year over year. More than 200 million people have used the company’s AI chatbot. SNAP is broadening its presence in the realm of generative artificial intelligence through the introduction of many AI-integrated features. ![]() The company made considerable progress in diversifying revenues with Snapchat+, ARES and sponsored AR advertising. ![]() The Snapchat+ subscription service reached more than 5 million paying subscribers in the third quarter. In the third quarter, Snap added new publisher deals and renewed agreements with ITV in the U.K., ProSieben in Germany, Network 18 in India and ESPN in the Netherlands. Europe DAU was 95 million, up 8% year over year and ROW DAU was 211 million at the end of the reported quarter, up 20.6% year over year. North America DAU was 101 million, up 1% year over year. Quote Improvement of User Engagement in the Third Quarter price-consensus-eps-surprise-chart | Snap Inc. ![]()
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