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Earnings Results: Snap stock falls after user base shrinks again but new ad formats gain steam

Snap Inc. is doing a better job of monetizing its user base, but that loyal following continues to shrink.

The social-media company on Thursday posted better-than-expected financial results for its third quarter, but Snap’s SNAP, +6.07% daily-active-user count declined once again, in line with analyst expectations. The report came just hours after Twitter Inc. TWTR, +15.47% delivered top- and bottom-line results ahead of consensus as well.

Shares of Snap plunged 10% in after-hours trading after gaining just over 6% in the regular session. Facebook Inc. FB, +3.36% and Twitter shares also declined in the extended session Thursday.

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