The company saw its daily active user base fall four million short of expectations, while revenue reached $1.72 billion against a projected $1.73 billion. However, profitability showed marked progress, turning a prior-year net loss of $104 million into a $56 million net income. To support longer-term platform stability, leadership announced plans to phase out daily engagement as its core audience metric in favor of monthly reporting. Forward-looking guidance remains optimistic, with fourth-quarter sales and adjusted earnings expected to meet or exceed consensus estimates.
Key points
Snap will transition to global monthly active users as its primary audience metric starti…: Snap will transition to global monthly active users as its primary audience metric starting in 2027.
Fourth-quarter revenue guidance between $1.95 billion and $1.99 billion features a midpoi…: Fourth-quarter revenue guidance between $1.95 billion and $1.99 billion features a midpoint that tops analyst expectations.
Adjusted earnings for the third quarter reached $383 million, easily surpassing the conse…: Adjusted earnings for the third quarter reached $383 million, easily surpassing the consensus estimate of $337 million.
Sources checked by our analysis pipeline: 1
Snap shares sank over 10% when the Snapchat parent missed on revenue and daily active users in its third-quarter earnings report Wednesday.
Here's how the company did compared with analysts' expectations:
- Loss per share: 3 cents. That figure is not comparable to analysts' estimates.
- Revenue: $1.72 billion vs. $1.73 billion expected, according to LSEG
- Global daily active users: 495 million vs. 499 million expected, according to StreetAccount
- Global average revenue per user, or ARPU: $3.48 vs. $3.48 expected, according to StreetAccount
Sales in Snap's third quarter jumped 14% year-over-year while net income came in at $56 million, compared to the $104 million net loss it logged the prior year.
Snap's third-quarter adjusted earnings came in at $383 million, topping the $337 million that analysts were projecting, according to StreetAccount.
The Snapchat parent said fourth-quarter revenue should come in between $1.95 billion and $1.99 billion. The midpoint of that figure is higher than Wall Street's estimates of $1.95 billion.
Fourth-quarter adjusted earnings are expected to come in between $490 million and $525 million. Analysts were expecting that…
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