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Snap’s Revenue Surges and Sends Stock Soaring 20%

By Alex Heath
· · Source: The Information

Snap reported stronger than expected revenue growth in the third quarter, but warned that digital advertising demand could be weaker than normal in the fourth holiday quarter due to the global pandemic. Revenue for the most recent quarter was $679 million, rising 52% from the year-ago period and beating the consensus Wall Street estimate of $550 million. Snap has particularly benefited during...

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Creator Josh Richards, LTK exec Reesa Lake, Pinterest chief content officer Malik Ducard and Duolingo’s global social media manager Zaria Parvez (from left to right). Photo: Mike Sullivan
The Information’s second Creator Economy Summit is happening this Wednesday. For the past two months, I’ve been preparing for our interviews with creators, startup leaders and executives at major tech companies including Instagram, YouTube and Pinterest. (You can still register here.) This prep work has come at a pivotal time for the industry. When we held our first summit in late October,...
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