Snap sees Q4 revenue $1.68B-$1.71B, consensus $1.69B

The company said, “Our Q4 revenue guidance range is $1.68 billion to $1.71 billion, implying year-over-year revenue growth of 8% to 10%. From a cost perspective, we are tracking well against our full year cost structure guidance. For Infrastructure, our guidance was for quarterly costs of $0.82 to $0.87 per DAU and we hit the mid-point of this range in Q3. In Q4, we anticipate that Infrastructure costs will post a modest sequential rise to between $420 million and $435 million. For all Other Cost of Revenue, our full year guidance range was 19% to 21% of revenue. A mix shift in delivery of impressions towards Sponsored Snap (SNAP)s and Spotlight helped to reduce this to 18% in Q3, and we anticipate being in the 18% to 19% range in Q4. For Adjusted Operating Expenses, we provided full year guidance of $2.70 billion to $2.75 billion, which we reduced to $2.65 billion to $2.70 billion earlier this year, and we currently estimate we will end the full year nearer the low end of this reduced range.”