It also said that the company lost $2.31 per share, though most of that was due to expenses related to stock-based compensation. Now, it appears that Snap Inc. has kicked off its first quarterly earnings - since the IPO - in a bad way.
Snap said its daily active users (DAUs) rose 36.1% to 166 million in the first quarter from a year earlier, marking a slowdown from the 47.7% rise for the fourth quarter and 62.8% jump for the third quarter that the company reported in its IPO filing. After the results, Snap shares fell immediately, trading almost $18.19 which is the lowest since it went public.
The vague response did little to ease Snap's nosediving stock.
"Snap user growth is nearly zero".
Launched in 2011, Snapchat (the company rebranded as "Snap" last year) initially appealed largely to younger users who enjoyed the app's ephemeral quality: photos and short videos sent using the app disappeared automatically after being viewed by recipients.
Une belle retraite pour le président François Hollande
Les futurs-ex présidents ne bénéficieront plus non plus de l'accès illimité et gratuit à la SNCF. Toutefois, il pourra se consoler d'un montant faramineux qu'il touchera pour sa retraite .
Snapchat added just five million daily active users in the final three months of past year, down from at least 10 million added in each of the previous four quarters. But if Instagram Stories gets more traction, which it likely will, Snapchat needs to pivot its service and expand to other fronts, thereby making the app more unique than rivals.
One key to Snap, the owner of the wildly popular Snapchat messaging app, dodging a similar reception from the market rests on whether its user growth and engagement measures meet investors' expectations as Facebook aggressively copies its most successful features. The company said in April that Instagram Stories alone had reached 200 million daily active users. "But I do think at this point, we're pretty much ahead in terms of the technology that we're building".
According to Snap CEO Evan Spiegel, connectivity issues, as well as low bandwidth in developing markets, are holding back uptake in many global markets. "Just because Yahoo has a search box doesn't make it Google".
Here's a look at Snapchat's most disappointing metrics from the quarter. They included new products such as Stories, Memories, Lenses and, most recently, Spectacles, camera-equipped sunglasses that allow users to more easily capture and share 10-second snaps.
Shares in Twitter (NYSE:TWTR) and Facebook also slid after they posted debut scorecards.
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