The Snapchat parent company Snap released its expected quarterly report for the third fiscal year 2024 after the market closed on Tuesday. The company reported a loss of $0.09 per share, which was better than the analysts' forecast of -$0.135 per share. In the previous year, the loss was -$0.23 per share.

Snap was able to record a revenue increase to $1.37 billion, compared to $1.19 billion in the same period last year. This figure slightly exceeded analysts' expectations, who had anticipated $1.36 billion.

Despite the red numbers, Snap's stock reacted positively to the results and rose after hours by up to 5.79 percent to $11.52. This price movement reflects investors' confidence that Snap can continue to minimize its losses and achieve sustainable growth.

The improved loss balance is a sign that Snap is optimizing its cost structures and operating more efficiently. The increase in revenue also suggests increased user activity and more successful monetization strategies. Particularly the increased advertising revenue and the introduction of new features may have contributed to this growth.

Analysts praised Snap's performance, particularly the company's ability to reduce losses while increasing revenue. However, margins and future projects remain key issues that need to be carefully monitored. Investors expect Snap to continue its strategies for cost reduction and revenue enhancement to achieve long-term profitability.