Snap Inc. Shares Drop 11% Following Third Quarter Revenue and User Growth Miss
Snap Inc. (SNAP) shares experienced a significant decline of approximately 11% on Thursday following the release of its third-quarter financial results. The company reported advertising revenue growth and user acquisition numbers that fell short of analyst expectations, weighing heavily on investor sentiment. While daily active users grew slightly to 495 million for the quarter ending in September—up from 493 million in the previous quarter—the pace of expansion was insufficient to meet market forecasts. The miss in core advertising metrics highlights ongoing challenges in user monetization and growth momentum for the social media platform.
Tickers: $SNAP
Topics: advertising revenue daily active users earnings report stock price decline