"Performance advertisers are laser focused on return on investment and spend (and spend more) where they see a compelling return."

"We are increasingly confident that overseas direct response/performance advertisers are taking advantage of low relative bid prices on ad inventory in the U.S.," he added.

Revived advertising spend would likely come as a welcome reprieve for Snap investors, who've seen their shares sink as much as 70 percent from their IPO price within the past year before rebounding to $10.05.

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