Snap’s business is showing signs of life
by Alex Heath from The Verge - All Posts on (#6FV52)
Illustration by Alex Castro / The Verge Snap's business has been on life support for a while now, with Apple's ad tracking changes on iOS, competition from TikTok, and a combination of other factors leading to a collapse in its revenue growth.
That said, all is not lost: based on the third quarter earnings results that Snap announced on Tuesday, its ads business appears to finally be on the upswing. Total revenue grew to nearly $1.2 billion, an increase of 5 percent from the same time last year. Snap is still a money-losing company, though. It posted a net loss of over $368 million for the quarter, slightly higher than the year-ago period.
While the return to revenue growth is certainly a welcome sign, Snap's management team continues to be in a state of flux. Jerry Hunter,...