Economy / Markets
Snap grows revenue 14% but misses on users and the shares slide
Snap posted third-quarter revenue of $1.72 billion, up 14% from a year earlier, with net income of $56 million and adjusted EBITDA of $383 million. Global daily active users reached 495 million, short of the 499 million analysts expected, and revenue also came in just below consensus. The shares fell more than 10%. From the first quarter of 2027 Snap plans to report monthly actives rather than daily ones as its primary audience metric.