Snap's Daily Active Users Fall Short of Forecasts; Shares Drop 12%

Snap's November 4 earnings release reported 495 million daily active users for Q3 2026, below the 499 million analysts expected and up from 493 million a quarter earlier. Shares fell 12% after results missed estimates for ad revenue and user growth. The release also said paid subscribers across Snapchat+, Memories Storage and Lens+ passed 30 million.