Snap Reports Strong Q3 Growth and Unveils 'Simple Snapchat' Launch Plans

Snap Inc. has announced significant user growth and revenue increases while preparing to launch a simplified version of its app in early 2025.

Snapchat's daily active users reached 443 million, with a 25% increase in time spent watching content year-over-year.
Revenue for Q3 2024 grew by 15% to $1.37 billion, surpassing Wall Street expectations.
The company plans to launch a 'Simple Snapchat' app in Q1 2025, currently being tested by 10 million users across various countries.
Snap's new advertising formats and AI-driven features have helped attract more advertisers, doubling the number of active advertisers year-over-year.
Snapchat+ paid subscriptions have more than doubled, reaching 12 million subscribers, contributing significantly to revenue growth.