4 – Breaking News & Latest Updates 2026
Skip to main content

Snapchat

Alex Heath
Alex Heath
Snapchat is still growing but it has a Stories problem.

Snap just reported its earnings for the third quarter and the numbers are mostly in line with what Wall Street was expecting. Daily users reached 363 million, a 19 percent increase that is much better than growth rates for Facebook and Twitter. Revenue only grew 6 percent to $1.13 billion and Snap remains unprofitable.

Snap invented the Stories format but now it’s saying that users are engaging less with their friends’ Stories, which is a problem for its business since ads are placed between Stories. The company laid off 20 percent of its employees recently in an attempt to cut costs and get to profitability faster.

This is Snap’s turnaround plan

In a leaked internal memo, CEO Evan Spiegel explains how Snapchat aims to pick itself back up after getting “punched in the face hard.”

Alex Heath
Snap is working on a paid subscription called Snapchat PlusSnap is working on a paid subscription called Snapchat Plus
Mitchell Clark and Alex Heath
Snapchat’s flying camera
Play

Snap takes another stab at hardware with a selfie drone called Pixy

Alex Heath