Snap Inc. (NYSE:SNAP) Q3 2024 Earnings Conference Call October 29, 2024 5:00 PM ET

Company Participants

David Ometer - Head, Investor Relations
Evan Spiegel - Chief Executive Officer & Co-Founder
Derek Andersen - Chief Financial Officer

Conference Call Participants

Dan Salmon - New Street Research
Rich Greenfield - LightShed Partners
Justin Post - Bank of America
Ken Gawrelski - Wells Fargo
James Heaney - Jefferies
Shweta Khajuria - Wolfe Research
Ross Sandler - Barclays

Operator

Good afternoon, everyone, and welcome to Snap Inc.'s Third Quarter 2024 Earnings Conference Call. At this time, participants are in a listen-only mode.

I would now like to turn the call over to David Ometer, Head of Investor Relations.

David Ometer

Thank you, and good afternoon, everyone. Welcome to Snap's third quarter 2024 earnings conference call.

With us today are Evan Spiegel, Chief Executive Officer and Co-Founder; and Derek Andersen, Chief Financial Officer.

Please refer to our Investor Relations website at investor.snap.com to find today's press release, earnings slides and investor letter.

This conference call includes forward-looking statements, which are based on our assumptions of today. Actual results may differ materially from those expressed in these forward-looking statements, and we make no obligation to update our disclosures. For more information about factors that may cause actual results to differ materially from these forward-looking statements, please refer to the press release we issued today as well as risks described in our most recent Form 10-K or Form 10-Q, particularly in the section titled Risk Factors.

Today's call will include both GAAP and non-GAAP measures. Reconciliations between the two can be found in today's press release. Please note that when we discuss all of our expense figures, they will exclude stock-based compensation and related payroll taxes, as well as depreciation and amortization and certain other items. Please refer to our filings with the SEC to understand how we calculate any of the metrics discussed on today's call.

With that, I'd like to turn the call over to Evan.

Evan Spiegel

Hi, everyone, and thank you for joining our call.

In Q3, we continued to make progress on our core priorities of growing our community and improving depth of engagement, driving top-line revenue growth and diversifying our revenue sources and building toward our long-term vision for augmented reality. Daily active users reached 443 million in Q3, an increase of 37 million year-over-year. We continue to deepen engagement with our content platform with a number of content viewers and total time spent watching content growing year-over-year.