Quarterly revenue rose 52% to $678.7 million, well ahead of analysts’ estimates of $557 million, according to a FactSet poll. Snapchat added 11 million users from the prior quarter to end the September period with 249 million daily active users. Snap said it continues to see strong engagement among Gen Z and millennial users in the U.S., the U.K. and France. “The pandemic has forced all of us to rethink the way we do business,” Mr. Spiegel said at the virtual conference. The company narrowed its third-quarter loss to $199.8 million from $227.4 million in the same period last year.

Source: Wall Street Journal October 20, 2020 20:15 UTC