A post by @FirstSquawk on X.
SNAP Q3 REVENUE $1.72 BLN, ROUGHLY IN LINE WITH ESTIMATE OF $1.73 BLN, WITH ADJUSTED EBITDA $382.6 MLN, ABOVE ESTIMATE OF $338.1 MLN, BUT ADJUSTED EPS 3 CENTS, WELL BELOW ESTIMATE OF 16 CENTS
@FirstSquawk on X
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Snap reported third-quarter revenue of $1.72 billion, roughly matching the $1.73 billion consensus, while adjusted EBITDA came in at $382.6 million versus the $338.1 million estimate. Adjusted earnings per share fell sharply short at 3 cents against an expected 16 cents, a gap likely to dominate the market reaction. The split between stronger operating profitability and a steep EPS miss points to below-the-line items weighing on the bottom line. Investors will watch for management commentary on the cost drivers behind the EPS shortfall and any guidance implications for the fourth quarter.
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