🔴 Snap is trading 11.4% down after Q3 revenue and user counts missed estimates

Snap is trading 11.4% lower at $5.37 after Q3 revenue and daily active users missed analysts’ expectations.

• Revenue was $1.72 billion versus $1.73 billion expected; daily active users were 495 million versus 499 million expected.
• Snap returned to GAAP profitability and reported stronger adjusted EBITDA; advertising revenue grew 4%. Its Q4 revenue guidance midpoint was above consensus.
• Starting in Q1 2027, Snap plans to make monthly active users its primary audience metric. Shares fell sharply in the live session following the November 4 earnings-day close at $5.92.