Snap Inc.

Snap missed revenue and user expectations in the third quarter: revenue rose 14% but was slightly below consensus, and daily active users were 495 million versus the expected 499 million. GAAP earnings per share and adjusted EBITDA of $383 million were positive surprises; net income was $56.5 million. CEO Evan Spiegel still sees weakness in the advertising business. Snap will report monthly rather than daily user figures starting in 2027, and JPMorgan cut its price target to $5. The stock plunged significantly in after-hours trading. » More on deraktionaer.de

Snap reported Q3 revenue of $1.72 billion, slightly below the $1.73 billion expected, and daily active users of 495 million versus 499 million forecast. ARPU matched expectations at $3.48, while adjusted earnings of $383 million topped estimates and net income was $56 million compared with a prior-year loss. Snap guided Q4 revenue to $1.95–1.99 billion (midpoint above Street) and adjusted earnings to $490–525 million. The company said it will make monthly active users its primary audience metric starting in Q1 2027 and reported 977 million MAU for the quarter. » More on cnbc.com

Snap reached out-of-court settlements in California with two plaintiffs, averting a potentially industry-setting jury trial over addiction claims linked to the Snapchat app. The deals halt ongoing jury proceedings and postpone a decision on roughly 3,000 consolidated lawsuits, of which only a few bellwether cases were to be litigated. Additional bellwether trials are scheduled for March and August 2027; if those are also settled, most plaintiffs will remain waiting. » More on heise.de

Snap has reached a settlement with plaintiffs who alleged Snapchat was designed to be addictive, according to plaintiffs' lawyers. Terms of the settlement were not disclosed. The announcement follows similar settlements by Meta, TikTok and Alphabet with the same plaintiffs. » More on cbsnews.com

Snap named Robert Downey Jr. as “Chief Customer Experience Officer” for its SPECS AR glasses and released promotional videos showing Downey demonstrating features like sports help, art practice, and private media viewing. In one ad he contrasts SPECS with competing “AI glasses.” The glasses are available for preorder at $2,195 and are due to launch this fall; Snap also enlisted Imogen Heap and Jimmy Butler as promoters. » More on theverge.com