Snapchat gains 11m users worldwide

Snapchat’s global user base continues to thrive, adding 11 million new daily active users in the past three months and reaching a total of **443 million**, reflecting a **9%** increase. However, the app has hit a plateau in the U.S. market, where user numbers have remained stagnant at **100 million** annually.

Despite the growth in users, Snap, Snapchat’s parent company, is facing challenges in translating this expansion into profitability. In the third quarter, Snap reported a **15%** year-over-year revenue increase, totaling **$1.37 billion**—slightly surpassing analyst expectations. However, the company still recorded a loss of **$153 million**, although this represents a **58%** improvement compared to a loss of **$368.3 million** during the same period last year.

Snap’s revenue primarily stems from advertising on its platform. For the upcoming quarter, which includes the Christmas season, the company anticipates revenue between **$1.51 billion** and **$1.56 billion**, aligning with analysts’ projections.

Following the announcement of a **$500 million** share buyback program, Snap’s stock surged by approximately **7%** in after-hours trading.