There was much to admire about Snap's (NYSE: SNAP) third-quarter financial results, released Wednesday morning, and data on growth for a new feature holds some promise for the tech stock.
The report showed revenue of $446 million for the quarter, an increase of 50% year over year. And Snap's net loss of $98 million was a significant improvement over the year ago. Most encouraging was news that the company's daily active users of its Snapchat app hit 210 million, improving 13% year over year.
That being said, not everything about the company's earnings report was applauded. In particular, Snap projected fourth-quarter revenue between $540 million and $560 million. While that would be an improvement year over year, the midpoint of the guidance puts revenue slightly below analyst estimates for the period.