Global supply chain issues even seem to be hampering social media companies as evident from Snap’s (SNAP) Q3 results. Snap delivered a mixed bag of earnings that resulted in the stock falling 22% in an extended trading session on October 21. The company posted revenues of $1.07 billion, a jump of 57% year-over-year, but missed the consensus estimate of $1.1 billion. SNAP’s adjusted earnings came in at $0.17 per share, surpassing analysts’ estimates of $0.08 per share. Moreover, Snap’s daily active users (DAU) increased 23% year-over-year to 306 million.
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Snap (NYSE:SNAP)
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Snap (NYSE:SNAP)
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