Snap Inc. Announces Third Quarter 2020 Financial Results
Summary
• We launched a new unscripted series called “The Solution Committee” in which Jaden Smith seeks out the help of young activists and celebrity friends to explore racial and social justice issues. • The ‘Raise Your Voice’ Lens generated over 70 million impressions and over 48,000 hours of playtime, demonstrating the power of AR as a format in honoring the legacy of important movements, such as the March on Washington in 1963. We strengthened our ad platform and products while engaging with advertisers: • We partnered with Champs Sports, Clearly, Essie, Hoka One One, Kohl’s, Levi’s, Jordan Brand, and Sally Hansen to launch augmented reality-powered virtual try-on experiences. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends, including the ongoing COVID-19 pandemic that we believe may continue to affect our business, financial condition, results of operations, and prospects. Additionally, we believe that Free Cash Flow is an important measure since we use third-party infrastructure partners to host our services and therefore we do not incur significant capital expenditures to support revenue generating activities.