Snap Inc. shares fall after missing revenue and daily users
Business
Snapchat's parent company, Snap Inc. had a rough Wednesday.
Its shares dropped more than 10% after missing Wall Street's expectations for both revenue ($1.72 billion vs. $1.73 billion expected) and daily users (495 million instead of 499 million).
Not the best news if you're tracking tech stocks.
Snap Inc. posts $383 million adjusted earnings
Even with those misses, Snap actually beat profit forecasts, pulling in $383 million in adjusted earnings (well above predictions).
Looking ahead, Snap expects strong numbers for Q4 and plans to switch its focus from daily to monthly active users starting in 2027, a move aimed at keeping more people engaged long-term.