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Earnings: SNAP stock soars, VZ tops Q3 forecast, TNX posts beat

Yahoo Finance's Julie Hyman and Adam Shapiro report on the latest market movers and earnings.

Video Transcript

JULIE HYMAN: And we want to get to some other earnings-related movers as well today because, of course, we are in the thick of it in terms of earnings season. Verizon, one of the companies that reported-- this shares are actually little changed today-- a little bit of good, a little bit of bad in the report. Third-quarter profit fell, but it did beat estimate. Operating revenue was down about 4% and missed some estimates at about $31.5 billion.

The company added 283,000 post-paid phone subscribers. That's above estimates, and the company also boosted the lower end of its full-year earnings per share forecast, now looking for growth of unchanged-to-2% versus a prior forecast of down-2%-to-up-2%. And we should mention by way of disclaimer that Verizon is the parent company of Yahoo Finance. Adam?

ADAM SHAPIRO: And want to pay attention to what's happening with Snap. When they reported, it was a surprise for Wall Street. They actually reported a profit when the street was expecting a loss, and now shares on a lot of good news out of Snap trading higher, up 33% right now.

Here's what's going on. The company saw daily active users at almost 250 million. It was up 18% to 249 million. Revenue jumping 52%, nearly $679 million. The average number of Snaps created every day, according to the company, grew 25% year over year. Average daily active users spending time on Snap, they say it's 30 minutes. 75% of the people 13 years old to 34 year olds in the United States, according to Snap-- 75% are using the app.

Evan Spiegel, the CEO, said, quote, "The adoption of augmented reality is happening faster than we had previously anticipated. We're working together as a team to execute on many opportunities regarding augmented reality," which they say on a daily basis 180 million users use some form of augmented reality. Julie?

JULIE HYMAN: And then there is Texas Instruments. Those shares are off by about 2 and 1/2%, even after the company forecast fourth-quarter revenue above analysts' estimates. The company's demand last quarter was driven by what's going on with vehicles. Sales have risen back to year-ago levels for chips that are used in cars. The company also said it saw demand for chips used in smart speakers and TV, but industrial demand remains mixed. Third-quarter net income did fall. Revenue in the quarter was little changed year over year, so that could be partially responsible for the decline in the shares, even as the company said its fourth-quarter revenue is going to be above what analysts had been predicting.