Snapchat (SNAP) Q3 2024 earnings results beat EPS expectations on slight revenue miss

The company was up year-over-year for revenue, but didn't quite make the analyst expectation for the quarter.

Snapchat was among the tech companies that released its quarterly earnings results this week, and its Q3 2024 earnings results were a mixed bag of success and misses. The company beat on its earnings-per-share (EPS) for the quarter, but couldn’t quite overcome analyst expectation.

The Snapchat company put out its Q3 2024 earnings results on its investor relations website this week. In said results, the actual revenue for Snapchat came out to $1.373 billion. That was just underneath the $1.4 billion expectation set by Wall Street analyst consensus. On the EPS side, Snapchat’s overall EPS came out to $0.08 per share. That was more than enough to beat out the Wall Street analyst expectation of $0.05 per share.

Despite missing on its revenue expectations, Snapchat’s revenue still continues to grow in comparison to previous years. The $1.373 billion of revenue in Q3 2024 was up 15 percent year-over-year from Q3 2023, which came out to $1.19 billion. With that in mind, it would appear that Snapchat continues to be able to pull in numbers. The app still has a healthy userbase with over 443 million Daily Active Users (DAUs) reported in Q3 2024.

Snapchat may not be the most hotly used social media platform, but it still has a foothold in the social landscape. As we watch to see what comes next for the company, stay tuned for further Snapchat news and reporting here at Shacknews.