Snap's Earnings Report Was Better Than You Think

Snap (NYSE: SNAP) shares were getting shellacked after the social media company turned in a disappointing third-quarter earnings report. Shares plunged more than 20% Friday morning after the company missed revenue estimates for the third quarter and offered underwhelming guidance for the current period. Q3 revenue increased 57% to $1.07 billion, but that was short of the company's guidance and the analyst consensus of $1.1 billion, while management guided for Q4 revenue of $1.165 billion to $1.205 billion, or just 30% growth at the midpoint.