00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Snap shares sank more than 10% Wednesday after the Snapchat parent missed Wall Street's third
00:08quarter revenue and daily active user expectations, according to CNBC. Revenue rose 14% to $1.72
00:16billion, below estimates of $1.73 billion. Global daily active users reached $495 million,
00:25missing expectations of $499 million. Snap reported adjusted earnings of $383 million,
00:33topping estimates of $337 million. The company also posted net income of $56 million,
00:41reversing a $104 million loss a year earlier. Snap expects fourth quarter revenue between $1.95
00:48billion and $1.99 billion. The company also plans to make monthly active users its primary audience
00:56metric beginning in the first quarter of 2027. For all things money, visit benzinga.com.
