Snapchat Reports Third-Quarter Earnings Miss, Stock Falls

• Snapchat reported a third-quarter revenue of $1.72 billion, missing estimates and causing a stock decline.
• Snap's shares fell over 10% due to the revenue miss and lower-than-expected daily active users.
• Snapchat surpassed 30 million paid subscribers, highlighting user willingness to pay for enhanced features.
• Snapchat's daily active users reached 495 million, a 4% increase year-over-year.
• Snap swung to a profit of $56 million in the third quarter, reflecting progress towards a more profitable business.