Snap shares plummeted more than 25% in extended trading on Thursday after the social media company reported weaker-than-expected revenue for the third quarter. It’s Wall Street’s first peak into the current state of the struggling online ad market.
Here are the key numbers.
- Earnings per share: 8 cents, adjusted, versus a small loss just shy of breakeven expected, according to a Refinitiv survey of analysts
- Revenue: $1.13 billion versus $1.14 billion expected, according to Refinitiv
- Global Daily Active Users (DAUs): 363 million versus 358.2 million expected, according to StreetAccount
Snap’s third-quarter revenue grew 6% from a year earlier, the first time it’s dipped into single digits since…