https://wccftech.com/snap-inc-losing-users-as-it-moves-towards-profitability/

Snap Inc. (NYSE:SNAP) has announced their earnings for Q3 ending September 30th, with their stock immediately taking a 10% hit in after-hours trading based on their results. Highlights from the earnings call and report are below:

Snap recorded a net loss of $325M this quarter compared to $443M in Q3 2017 when adjusting for EBITDA they recorded a loss of only $138M compared to $178M in Q3 2017. The long-term stretch goal for 2018 was to become profitable however, this was abandoned long ago, internally the company still believes they can turn a profit just not in 2018. The quarterly losses of Snap are shrinking because advertising revenue is rising proportionately higher than expenses are. Snap has invested heavily in their advertising tools and believes that revenue will continue to climb based on these investments and will be less expensive to manage in subsequent quarters. They estimate a loss of between $75M-$100M (adjusted EBITDA) in Q4, which is feasible as the Balance sheet has some room for more losses if shareholders are willing to be patient.