The streaming behemoth could be leaving money on the table, with its content slate drawing massive buzz in the face of fierce criticism.
Snap's (NYSE: SNAP) stock price plummeted 21% during an after-hours sell-off on Oct. 21 after the social media company posted its third-quarter results. Snap's revenue rose 57% year over year to $1.07 billion, but narrowly missed estimates by $30 million. On a non-GAAP basis, Snap's earnings skyrocketed from $0.01 to $0.17 per share, which beat expectations by $0.09.
The Dow and the S&P 500 hit record highs on Friday following positive earnings from American Express, while the Nasdaq was pressured after social media giants including Facebook tumbled on Apple privacy tweak worries. The benchmark index hit an intraday record for the second straight session and was set for weekly gains of 1.8%, extending a bullish run for the third consecutive week.