Technology
Snap announces Q3 2018 earnings, revenue, analysis
Snap, the parent company of messaging app Snapchat, beat analysts’ expectations for its third quarter on Thursday, sending the stock spiking as much as 9% — before crashing into the red.
Its daily active users fell by 1% throughout Q3 2018 — at a faster rate than Wall Street was anticipating.
Here are the key numbers:
- $297.7 million revenue (versus $283.36 million expected)
- $-0.12 adjusted EPS (versus $-0.14 expected)
- 186 million daily active users (versus 186.8 million expected), down 1%
The company has been struggling in recent months, as it comes under sustained pressure from Facebook and sister app Instagram, and its userbase flat lines following a controversial redesign.
This story is developing…
Get the latest Snap stock price here.
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