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Why Snap Shares Plunged Today

TheMotleyFool

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Shares of Snapchat operator Snap (NYSE: SNAP) have plunged today, down by 16% as of 10:40 a.m. EST, after the company reported third-quarter earnings that fell short of expectations.

Revenue in the third quarter rose to $207.9 million, while the company's net loss more than tripled to $443.2 million, or $0.36 per share. Daily active users (DAUs) crept higher to 178 million. Average revenue per user jumped 39% to $1.17, while hosting costs per DAU came in at $0.68.

Image source: Snap.

Source: Fool.com

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