Movement Alert｜Snap Inc Falls 12.16% in Pre-Market Trading, Q3 Results Miss Expectations

Market Focus11-05

On November 5, Snap Inc fell 12.16% in Pre-Market Trading, trading at $5.26, with turnover of $355,700.

The move followed the company’s latest quarterly results, which came in below market expectations on both revenue and adjusted earnings, outweighing a better-than-expected adjusted EBITDA figure and in-line fourth-quarter revenue guidance.

For the third quarter, revenue was $1.72 billion versus a $1.73 billion market estimate, while adjusted EPS was $0.03 compared with an expected $0.16. Adjusted EBITDA reached $382.6 million, above the $338.1 million consensus. Snap Inc said it expects fourth-quarter revenue of $1.95 billion to $1.99 billion, around the $1.96 billion market view, but investors appeared focused on the weaker current-quarter revenue and profit delivery.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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