Snap Swings To Profit As SPECS Set To Roll Out; Stock Takes A Hit

Snap’s third quarter revenue jumped 14% year-on-year to $1.72 billion as income of $56 million swung from a net loss of $104 million, “reflecting the progress we are making to build a more profitable business,” said Evan Spiegel, co-founder and CEO. Snapchat daily active users reached 495 million,…

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