Snap Stock Sinks On User Miss

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