NYSE$SNAP
Snapchat Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Snapchat's revenue returned to positive growth, increasing 5% year-over-year, with positive adjusted EBITDA achieved through a reprioritized cost structure.
Snap Inc. announced its Q3 2023 financial results, with revenue increasing 5% year-over-year to $1,189 million and daily active users (DAU) growing 12% year-over-year to 406 million. The company reported a net loss of $368 million, while adjusted EBITDA was positive at $40 million.
- Daily Active Users (DAUs) reached 406 million in Q3 2023, a 12% increase year-over-year.
- Total time spent watching Spotlight increased over 200% year-over-year.
- Snapchat+ reached over 5 million subscribers in Q3 2023.
- Revenue increased 5% year-over-year
Headline financials
Revenue & EPS history
Snapchat · Revenue · Quarterly
$1.19B
Forward guidance
Snap anticipates continued growth in its global community and forecasts DAU to reach 410 million to 412 million in Q4. Due to the unpredictable nature of war, it believes it would be imprudent to provide formal guidance for Q4. The internal forecast assumes a revenue range of $1,320 million to $1,375 million, implying year-over-year revenue growth of approximately 2% to 6%. Within this range of revenue, it estimates that adjusted EBITDA will be between $65 million and $105 million.
Tailwinds
- Continued growth in global community expected.
- DAU expected to reach 410 million to 412 million.
- Focus on executing against direct-response advertising platform roadmap.
- Anticipates revenue range of $1,320 million to $1,375 million.
- Expects adjusted EBITDA to be between $65 million and $105 million.
Headwinds
- Forward visibility of advertising demand remains limited.
- Q4 revenue is historically backweighted.
- Brand advertising grew at a slower rate than direct-response advertising in Q3.
- Observed pauses in spending from brand-oriented advertising campaigns due to war in the Middle East.
- Risk that pauses in advertising spending could persist or increase in magnitude.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-3.8%
Avg return
Earnings day
-2.0%
Avg return
5 days after
-2.6%
Avg return
30 days after
29%
12 / 41 earnings
Positive
+49.8%
Q4 2017
Best reaction
-35.8%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | -9.5% | -5.9% | |
| Q4 2025 | -13.4% | -11.5% | -12.7% | |
| Q3 2025 | -12.3% | +20.0% | +8.4% | |
| Q1 2025 | -12.4% | -5.9% | -9.2% | |
| Q4 2024 | -8.4% | -7.7% | -16.2% | |
| Q3 2024 | +17.8% | +17.0% | +8.4% | |
| Q2 2024 | -29.7% | -35.1% | -29.9% | |
| Q1 2024 | +31.3% | +35.8% | +37.4% | |
| Q4 2023 | -31.9% | -33.7% | -29.3% | |
| Q3 2023 | -3.2% | -2.0% | +29.7% | |
| Q2 2023 | -15.4% | -15.8% | -26.1% | |
| Q1 2023 | -11.8% | -15.9% | +4.0% | |
| Q4 2022 | -6.5% | -0.8% | -8.9% | |
| Q3 2022 | -28.5% | -11.6% | -3.1% | |
| Q2 2022 | -35.8% | -37.9% | -25.5% | |
| Q1 2022 | -3.3% | -6.7% | -24.4% | |
| Q4 2021 | +21.3% | +17.1% | +3.2% | |
| Q3 2021 | -27.1% | -26.8% | -32.2% | |
| Q2 2021 | +23.0% | +16.7% | +14.7% | |
| Q1 2021 | +5.1% | +3.8% | -2.9% | |
| Q4 2020 | +7.4% | +6.0% | -3.1% | |
| Q3 2020 | +27.4% | +50.6% | +47.6% | |
| Q2 2020 | -8.2% | -12.3% | -13.6% | |
| Q1 2020 | +31.7% | +23.8% | +35.8% | |
| Q4 2019 | -11.2% | -6.0% | -24.0% | |
| Q3 2019 | -9.6% | -4.3% | +3.4% | |
| Q2 2019 | +24.5% | +26.4% | +13.6% | |
| Q1 2019 | -2.3% | -5.4% | -3.6% | |
| Q4 2018 | +24.0% | +31.3% | +36.9% | |
| Q3 2018 | -4.7% | -2.4% | -5.9% | |
| Q2 2018 | -6.3% | -5.7% | -24.9% | |
| Q1 2018 | -23.0% | -24.7% | -20.5% | |
| Q4 2015 | -6.4% | -12.4% | -12.2% | |
| Q4 2017 | +49.8% | +35.7% | +27.4% | |
| Q3 2016 | -18.1% | -18.0% | -0.3% | |
| Q3 2017 | -12.9% | -14.0% | -0.9% | |
| Q2 2016 | -8.5% | -4.7% | +11.4% | |
| Q2 2017 | -12.8% | -6.0% | +13.1% | |
| Q4 2016 | -16.7% | -9.6% | -21.3% | |
| Q1 2016 | -16.7% | -9.6% | -21.3% | |
| Q1 2017 | -22.6% | -11.1% | -22.5% | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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