1 Day
Source:
Los Angeles Times
Snap invests in AR glasses amid AI competition
Snap Inc. reported a 19% increase in quarterly revenue to $1.6 billion, surpassing forecasts, with advertising revenue accounting for most of the growth. The company projected third-quarter sales exceeding analyst expectations and experienced a stock boost in after-hours trading. CEO Evan Spiegel highlighted the upcoming launch of augmented reality glasses as a significant long-term opportunity, aiming to expand Snap’s reach beyond traditional social media, despite ongoing regulatory and legal challenges affecting the industry.
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