Snap Returns to Revenue Growth After Two Quarters of Declining Sales

Snap, the parent company of the popular social-media app Snapchat, returned to positive revenue growth in the third quarter after two consecutive quarters of declining sales, citing improvements in its ad platform.

Snap, among the first of the major social-media platforms to report earnings, said Tuesday that third-quarter revenue rose 5% year-over-year to $1.2 billion. Analysts had predicted a drop of 1.6%, according to FactSet.