There was a moment when Snapchat looked like it was destined to be a relic in social media history, losing users and missing its own revenue forecasts.

Not today. Snap, the app’s parent company, announced $1.51 billion in revenue as part of its third-quarter earnings on Wednesday, November 5. That figure was a 10% jump year-over-year (YOY) and beat Wall Street’s prediction of $1.49 billion, according to consensus estimates cited by CNBC.

Snapchat beat Wall Street’s expected global daily active users (477 million versus 476 million) and global average revenue per user ($3.16 versus $3.13). Both figures were also an improvement YOY.

Snap also announced a stock repurchase program for up to $500 million.

Alluding to its reported $93.4 million free cash flow, Snap explained, “The goal of th

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