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Snap announced in its quarterly earnings report yesterday that it now counts 306 million average daily users up 57 million users year-over-year. Snap said content submissions for its new TikTok-like Spotlight platform doubled over Q2 amid the rollout of new monetization incentives, including Spotlight Challenges. The company also said that two Snap Originals, Meme Mom and Honestly Loren, each surpassed 10 million viewers. Despite this growth, however, Snap’s stock plummeted on Friday after the company projected revenues of between $1.16 and $1.2 billion for Q4 far below the analyst estimates of $1.4 billion, according to The Financial Times. Revenues for Q3 rose 57% to 1.07 billion, which was also short of previous guidance. Snap announced in its quarterly earnings report yesterday that it now counts 306 million average daily users up 57 million users year-over-year.

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