Snap revenue view above estimates on boost from new ad targeting tools

The results are welcome news for the Snapchat owner after hiccups in rolling out a new machine learning-powered technology for better targeting of ads and promotions hampered its growth in the first half of the year. They also signal that advertisers were returning to smaller platforms such as Snapchat after leaning on the likes of Facebook-owner Meta Platforms, whose wider reach and a diverse user base are considered a safer bet in a turbulent economy. The Santa Monica, California-based company said it expected fourth-quarter revenue to be between $1.32 billion to $1.38 billion.