Snap Q3 revenue up 5% to $1.19B, net loss $368M; COO retiring; $500M buyback

Snap Inc

2023-Q3 EPS reported -$0.67 revenue$3,244,828,000

Q3 revenue $1.189B (+5% YoY); net loss $368M (vs $360M prior); Adjusted EBITDA $40M (vs $73M prior).
Daily Active Users 406M (+12% YoY); Spotlight time up >200%; Snapchat+ subscribers >5M.
COO Jerry Hunter to retire by July 1, 2024; duties transitioned by end of month.
Board authorized $500M stock buyback over 12 months; funded from $3.6B cash.
Q4 outlook: no formal guidance due to war uncertainty; internal forecast revenue $1.32-1.375B, adj. EBITDA $65-105M.

item 2.02 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Jerry Hunter

Chief Operating Officer

SNAP · Snap Inc

Effective: 2024-07-01
Filed: October 24, 2023, 7:59 PM ET

On October 20, 2023, Jerry Hunter, our Chief Operating Officer, notified us that he will retire on July 1, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jerry Hunter departed as Chief Operating Officer at Snap Inc.

Action: retire
Role: Chief Operating Officer

Exact text from the filing

On October 20, 2023, Jerry Hunter, our Chief Operating Officer, notified us that he will retire on July 1, 2024.

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Snap Inc filing history →

Source: SEC EDGAR

accession 0001564408-23-000050

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