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Snap shares fall over 10% on third-quarter revenue miss
Snap said daily active users rose 4% to 495 million, but investors still pushed shares down nearly 10% in after-market trading.
- Snap shares fell over 10% on Wednesday after the company missed revenue and daily active user targets in its third-quarter earnings report.
- CEO Evan Spiegel said revenue grew 14% to $1.7 billion, while income reached $56 million, swinging from a $104 million net loss the prior year.
- Snap reported $1.72 billion in revenue, missing the $1.73 billion expected by Analysts, while daily active users reached 495 million against the 499 million forecast.
- Alongside earnings, Snap showcased SPECS augmented reality glasses available for pre-order at $2,195, with Robert Downey as Honorary Chief Customer Experience Officer.
- Snap plans to adopt MAU as its primary audience metric in 2027, while projecting Fourth-quarter revenue between $1.95 billion and $1.99 billion.
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8 Articles
8 Articles
Snap Swings To Profit As SPECS Set To Roll Out; Stock Takes A Hit
Snap’s third quarter revenue jumped 14% year-on-year to $1.7 billion as income of $56 million swung from a net loss of $104 million, “reflecting the progress we are making to build a more profitable business,” said Evan Spiegel, co-founder and CEO. Snapchat daily active users reached 495 million, up 4% from the year earlier and […]
·Los Angeles, United States
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Snap Declines After Daily User Growth Falls Short of Estimates
Snap Inc. fell after the company reported third-quarter ad revenue and user growth that missed estimates, with Chief Executive Officer Evan Spiegel acknowledging that “advertising revenue growth remains below our ambitions.”
·New York, United States
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Total News Sources8
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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