Snap reported revenue of $1.72 billion, below analyst estimates of $1.73 billion. The results prompted a sharp drop in the share price.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related news
- Why Snap Needed an Iron Man Star Before Its $2,195 Glasses Go on Sale
Robert Downey Jr. has joined Snap Specs as honorary experience chief. The move puts the Iron Man star's image on AR glasses priced at $2,195 ahead of their launch.
- Meta Has a New 'North Star' — Mark Zuckerberg Explains Why He's Betting Big on Personal Superintelligence, AI Models and Smart Glasses
In its third-quarter 2026 earnings call, CEO Mark Zuckerberg outlined Meta's long-term AI strategy, with personal superintelligence as the company's 'North Star'. Meta aims to build its own AI models and personal AI agents, controlling the full technology stack from underlying models to the agents users interact with, and linking smart glasses and next-generation devices to this strategy. Revenue of $64.6 billion beat estimates of $63.37 billion, and adjusted earnings of $7.40 per share topped expectations of $5.74. Meta expects fourth-quarter revenue of $73 billion to $76 billion (versus estimates of $73.74 billion) and raised its 2026 expense forecast to $175 billion to $179 billion, up from $165 billion to $169 billion. Zuckerberg described AI and hardware investments as long-term bets, saying that if the company keeps building compelling technology for billions of people, 'over time the business takes care of itself.'
- Snap shares fall over 10% on third-quarter revenue miss
Snap shares fell more than 10% after parent company Snapchat's third-quarter revenue and daily active users missed analyst expectations. Revenue was $1.72 billion versus $1.73 billion expected per LSEG, and global daily active users were 495 million versus 499 million expected per StreetAccount. Average revenue per user (ARPU) was $3.48, in line with expectations, while revenue rose 14% year over year and net income was $56 million, compared with a $104 million net loss a year earlier. Snap guided fourth-quarter revenue to $1.95 billion to $1.99 billion, with a midpoint above Wall Street's $1.95 billion estimate. The company also said that starting in the first quarter of 2027 it will make global monthly active users its “primary audience metric,” arguing a longer-term horizon better reflects its product and safety decisions.
- Snap Stock Is Down 34% in 2026 Heading Into a Same-Day Trial Opening and Q3 Report. Here’s Where the Stock Could Go
Snap is the sole defendant in a Los Angeles jury trial over claims that features such as Snapstreaks and endless scrolling harmed two teenage plaintiffs, with opening statements set for November 4, the same day it reports third-quarter results. Meta settled with the last remaining plaintiff on October 30, and Snap fell 5.99% to $5.34 that day. Snap disputes the allegations, and a settlement before openings remains possible, while plaintiffs' lawyers expect the trial to run until mid-December. Management expects restructuring savings to show up more fully in Q3, with Street estimates around $337 million in EBITDA on about $1.73 billion in revenue. TIKR's mid-case target is about $8.40 by December 31, 2030, roughly 57% above $5.34, while Wall Street's 12-month mean target is about $7.40.
- How Low Can Snap Stock Go?
Snap (SNAP) shares lost 10.6% over the five trading days to October 29, 2026, while the S&P 500 gained 0.8%, and the stock traded at $5.68. Since its March 2017 listing, Snap has traded through eight market shocks, falling an average of 43.4% versus 15.3% for the S&P 500; in the 2022 inflation shock it lost 83% against 24% for the index, and on October 29, 2026 it closed 87.8% below its January 3, 2022 close. Fiscal Q2 2026 results improved, with revenue up 18.9%, operating loss narrowing to 10.7% of revenue from 19.3%, and free cash flow of $121 million versus $24 million a year earlier. Management warned that U.S. trials later in 2026 and closer scrutiny of youth-related issues could bring larger legal payments, and it raised its 2026 infrastructure cost forecast to $1.65 billion–$1.70 billion; Pennsylvania's attorney general sued Snap on August 26, 2026. Fiscal Q3 2026 revenue is guided to $1.70 billion–$1.74 billion, 13% to 15% growth, with results expected on November 4, 2026.
- Was There Any Sign Snap Stock Would Run?
Snap (SNAP) stock rose 42.7% between July 22 and October 20, 2026, versus 3.1% for the S&P 500, after falling 39.3% in the six months before July 22. Snap had reported faster revenue growth for three consecutive quarters, rising from 8.7% in the quarter ended June 2025 to 12.1% in the quarter ended March 2026, and had named small businesses as its main source of ad growth. Its second-quarter 2026 revenue rose 19% to $1.6 billion, and the shares climbed 14.9% the next day. Advertising revenue grew 9% to $1.28 billion, while other revenue, led by Snapchat+, grew 85% to $316 million and made up about a fifth of total revenue. Management forecast third-quarter revenue of $1.70 billion to $1.74 billion, about 14% growth at the midpoint, citing the expected normalization of World Cup-related spending and a tougher year-over-year comparison.
Related markets
Latest news
- Why an equal-weight S&P 500 fund can reduce Big Tech risk
Big Tech companies dominate traditional S&P 500 index funds. Investment expert Dryden Pence explains how equal weighting can help investors diversify their portfolios.
- Dow Jones Futures Rise After Apple, Microsoft, Amazon Flash Buy Signals In Postelection Rally. CoreWeave, SpaceX Skid.
Election results and sharply falling oil prices sparked a stock market rally. Stocks across many sectors flashed buy signals, but the article points to one area to avoid.
- Why Bitcoin's Next Soft Fork Could Feel Like a Practice Run
Longtime Bitcoin developer Matt Corallo, co-author of BIP-54, puts an 80% chance on the “Great Consensus Cleanup,” first proposed in 2019, becoming Bitcoin's next soft fork. The upgrade aims to fix four long-standing vulnerabilities in the consensus rules: poison blocks, time warp bugs, Merkle malleability and duplicate coinbase transactions. LayerTwo Labs' Paul Sztorc calls it maintenance work that adds no new functionality, while a TABconf developer survey points to September 2027 as the earliest expected timing, with most pointing to 2028 or later. Corallo argues BIP-54 could also serve as a deployment playbook for future soft forks, since previous upgrades involved considerable debate over activation mechanisms.
- This year’s worst-performing S&P 500 stock is finally seeing some major relief
AppLovin's stock is jumping after earnings results described as “clearly positive.”
- Why Opendoor Stock Jumped 13.8% Today
Opendoor Technologies (OPEN) stock rose 13.8% on Nov. 4, 2026, as housing stocks rallied after Democrats won both chambers of Congress in the midterms. The S&P 500 gained 1.7% and the Nasdaq Composite 1.5%. Democrats named housing affordability a major policy priority, and oil prices fell as investors hoped for a quicker end to the Iran war, a move that could help cool inflation and lower long-term Treasury yields, which the 10-year yield did that day. Opendoor is rate-sensitive: lower yields reduce mortgage rates and boost home sales, while its large financed inventory means higher rates raise interest costs. It reports Q3 results after the close on Thursday, with Wall Street expecting sales growth of about 17%.
- Why AI investors may need Nvidia and application stocks
Baron Capital portfolio manager Ashim Mehra explains why his AI strategy spans semiconductor leaders, smaller companies, and businesses that are putting AI into their products.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.