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Snap Stock Dives After Q3 Earnings — Here's Why

Benzinga·11/04/2026 21:34:49
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Snap Inc. (NYSE:SNAP) posted its third-quarter fiscal 2026 results after Wednesday’s closing bell, missing analyst revenue estimates. Here’s a look at the details inside the report. 

Snap Q3 Details      

Snap reported quarterly earnings of three cents per share, which beat the consensus estimate of zero cents, per Benzinga Pro data. 

Quarterly revenue of $1.72 billion missed the Street’s consensus estimate of $1.73 billion.

Daily Active Users (DAU) were 495 million, according to CNBC. The company said it will stop reporting DAUs and only report Monthly Active Users (MAU) in the future.

“In Q3, we generated positive net income as revenue grew 14% year-over-year to $1.72 billion, reflecting the progress we are making to build a more profitable business,” said CEO Evan Spiegel.

“AI is becoming a significant advantage for our teams and advertising platform, and we continue to strengthen our business while investing in our long-term vision for augmented reality with the launch of SPECS,” Spiegel added.

The company said it will address its fourth-quarter outlook on the earnings call to be held at 5 p.m. ET.

SNAP Stock Price: According to data from Benzinga Pro, Snap stock was down 10.47% to $5.30 in Wednesday’s extended trading.  

Photo: Shutterstock