Snap Inc. (NYSE: SNAP) reported third quarter 2021 earnings results today.
Revenue increased 57% year-over-year to $1.07 billion but missed market estimates of $1.1 billion.
Net loss amounted to $71.9 million, or $0.05 per share, compared to a loss of $199.8 million, or $0.14 per share, in the prior-year quarter. Adjusted EPS rose to $0.17 from $0.01 last year and beat expectations of $0.08.
Daily active users rose 23% year-over-year to 306 million.
For the fourth quarter of 2021, revenue is expected to be $1.16-1.20 billion.
Snap’s stock plummeted 21% during aftermarket hours.