Snap is trading 10.47% down at $5.30 after its November 4 earnings report disappointed on revenue and user growth. - Q3 revenue was $1.72 billion, below analysts’ $1.73 billion estimate; 495 million daily active users fell short of the 499 million expected. - Positive net income and stronger-than-expected adjusted EBITDA did not offset the misses. - Starting in 2027, Snap plans to make monthly active users its primary audience metric, raising concerns about ending daily-user reporting.