Snap reports Q3 revenue up 14% YoY to $1.72B, in line with est., and DAUs up 4% to 495M, vs. 499M est.; SNAP drops 9%+ after hours (Spencer Soper/Bloomberg)
The company's third-quarter revenue advanced 14% year-over-year to hit $1.72 billion, successfully matching market projections. In contrast, engagement numbers disappointed analysts as daily active users expanded by only 4% to reach 495 million. That total fell short of the 499 million daily users that Wall Street had anticipated for the quarter. Consequently, the disappointing audience trajectory triggered an after-hours stock decline of more than 9%.
Key points
Meeting quarterly revenue targets was not enough to satisfy investors seeking stronger pl…: Meeting quarterly revenue targets was not enough to satisfy investors seeking stronger platform adoption.
Disappointing daily active user metrics triggered an immediate after-hours stock drop of…: Disappointing daily active user metrics triggered an immediate after-hours stock drop of over 9%.
The performance demonstrates how critical engagement benchmarks remain for digital advert…: The performance demonstrates how critical engagement benchmarks remain for digital advertising platforms.
Sources checked by our analysis pipeline: 1
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Calder Mchugh / Politico: |
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Ben Thompson / Stratechery: |
Molly White / Citation Needed: |
Madison Mills / Axios: |
Ryan Christoffel / 9to5Mac: |
Mark Gurman / Bloomberg: |
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Katherine Schwartz / Bloomberg: |
Rafe Rosner-Uddin / Financial Times: |
Bloomberg: |
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Connie Loizos / TechCrunch: |
Mike Butcher / Pathfounders: |
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Yueqi Yang / The Information: |
Sawdah Bhaimiya / CNBC: |
Isaac Kasahara / Pangram: |
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Jagmeet Singh / TechCrunch: |
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Madison Mills / Axios: |
Spencer Soper / Bloomberg: |
Danial Azhar / Bloomberg: |
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Ian King / Bloomberg: |
Ivan Mehta / TechCrunch: |
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