Snap shares plummeted more than 25% in extended trading on Thursday after the social media company reported weaker-than-expected revenue for the third quarter. It’s Wall Street’s first peak into the current state of the struggling online ad market.Here are the key numbers.Earnings per share: 8 cents, adjusted, versus a small loss just shy of breakeven expected, according to a Refinitiv survey of analystsRevenue: $1.13 billion versus $1.14 billion expected, according to RefinitivGlobal Daily Active Users (DAUs): 363 million versus 358.2 million expected, according to StreetAccountSnap’s third-quarter revenue grew 6% from a year earlier, the first time it’s dipped into single digits since the company’s public market debut in 2017. Meanwhile, even as it reported a surprise adjusted profit, Snap’s net loss surged 400% to $360 million, partly due to a $155 million restructuring charge.CEO of Snap Inc. Evan Spiegel walks to a morning session at the Allen & Company Sun Valley Conference on July 07, 2021 in Sun Valley, Idaho.Kevin Dietsch | Getty ImagesDaily active users increased 19% year-over-year, showing the company is still able to attract people to the service despite the struggles on the business side. Average revenue per user (ARPU) was down 11% to $3.11.In August, Snap announced that it would lay off 20% of the company’s roughly 6,000 employees as part of a major restructuring plan. Severance and related costs made up a big part of the restructuring charge in the period.”Our revenue growth continued to decelerate in Q3 and continues to be impacted by a number of factors we have noted throughout the past year, including platform policy …
