Snapchat (SNAP) board of directors approves $500 million share buyback program

Published October 29, 2024 2:14 PM, by Donovan Erskine

Snapchat’s (SNAP) Q3 2024 earnings report brought a slew of new details regarding the company’s latest quarter. This included the announcement of a $00 share buyback program, which has been authorized by Snapchat’s board.

Snapchat announced the share buyback program in its Q3 2024 earnings report. The company explains that the program’s purpose is to “opportunistically offset a portion of the dilution related to the issuance of restricted stock units to employees as part of the overall compensation program designed to foster an ownership culture.”

Snapchat also reported that it had 443 million Daily Active Users in Q3 2023. Stick with Shacknews for more finance news from the tech industry.