Snap's Earnings Fall Short of Expectations

Snapchat voice chat

Snap Inc.'s shares plunged by more than 15 percent Tuesday after the social media company reported a rough first quarter that missed estimates for both revenue and user growth.

As any teen could have told you, Snapchat's controversial redesign was largely to blame. User growth rose 5% in the last quarter of 2017 and 3% in the third quarter.

Revenues for the quarter reached $230.7 million, up 54% year over year.

West Ham must learn from City defeat - Adrian
After being given a guard of honour by West Ham's players before kick-off, City set about dismantling their generous hosts. Pep Guardiola's side have swept to the Premier League title, with the top-flight crown secured in record-equalling time .

The owner of Snapchat said daily active users growth came in at its slowest rate ever, up 2pc quarter-on-quarter, at 191 million compared to 187 million at the end of previous year.

The daily active users figure also came in below Wall Street's expectations of 194 million.

According to Snap, Users can look forward to new Snappables every week.

Prince William, Kate Middleton Celebrate 7th Wedding Anniversary With Sweet Throwback
The royal couple's little boy, who weighed 8lbs 7oz at birth, takes one of his names from his grandfather, Prince Charles. Also, a royal wedding is set to happen in just a few weeks, with Prince Harry and Meghan Markle tying the knot on May 19.

"As we have mentioned on our past two earnings calls, a change this big to existing behavior comes with some disruption, especially given the high frequency of daily engagement of our community", Snap Chief Executive Evan Spiegel said in a statement.

Looking ahead, Spiegel said Snap is focused on optimizing the redesign, based on his team's ongoing experimentation and learning. Celebrities like Kylie Jenner have publicly tweeted about disliking the redesign, causing Snap's stock to plummet 6.1% in a single day. "The confluence of the app redesign and backlash from core power users was a gut punch to Snap during the quarter, with signs more speed bumps could be on the horizon". The stock fell close to its lowest levels on record.

Severe Weather Potential Increasing
All is quiet right now, but strong to severe storms are still expected to begin flaring up late in the afternoon into the evening. This has the potential to be the warmest air mass this region has seen since September of a year ago .

Related news:

Hot News

isis-killer-beheading-video-story-top Trump 'very proud' of crew of troubled Southwest flight
May 02, 2018 - 02:00
You drew from years of training and safety and you knew how to land that plane. He also wanted to meet passengers who assisted other travelers.

isis-killer-beheading-video-story-top UFC Won't Punish Conor McGregor Until Legal System Plays Out
May 02, 2018 - 01:55
Since Diaz lost his rematch with Conor McGregor via majority decision at UFC 202, there's been endless talk about when and who he'll fight again.

isis-killer-beheading-video-story-top Rio Ferdinand speaks nothing but the truth about Real Madrid
May 02, 2018 - 01:55
Bayern Munich suffered from a nightmarish déjà vu in Tuesday's second leg of its Champions League semifinal against Real Madrid . Sergio Ramos should have dealt with it but failed to clear and Kimmich pounced from close range.

isis-killer-beheading-video-story-top Facebook to unveil dating feature
May 02, 2018 - 01:55
The filter is turned on automatically and rolling out around the world. "I took Wyclef Jean to Jupiter and went home with Hodor". Pressing on it will take people to their dating profile if they have set one up. "Your friends aren't going to see this".

Diploma PLC (LON:DPLM) Weekly Ratings as of May 1, 2018
May 02, 2018 - 01:54
Deutsche Bank now has a GBX 245.00 price target on the 35.21 billion GBP market cap company or 18.82% upside potential. It fall, as 51 investors sold HD shares while 662 reduced holdings. 39 funds opened positions while 78 raised stakes.

isis-killer-beheading-video-story-top Anunoby expected to play key role vs. Cavs
May 02, 2018 - 01:52
LeBron averaged 45.0 points per over the last three home games of the series against IN and posted a triple-double IN the opener. Finally making a start, Tristan Thompson scored 15 points and 10 rebounds, after playing just 24 minutes in the first six games.

isis-killer-beheading-video-story-top Cardinal Pell to remain on leave after indictment - Vatican says
May 01, 2018 - 12:47
The Herald Sun said the magistrate found that the complainant behind at least one of the charges was an unsatisfactory witness. Cardinal Pell's supporters and advocates for sexual abuse survivors were also in the room.

isis-killer-beheading-video-story-top Juve scored twice in last five minutes to sink ten-man Inter
May 01, 2018 - 12:43
Inglese headed in a late consolation goal for Chievo, but they remain two points above the drop zone. Then he added: "It'll take more than one sleepless night to shake that off".

isis-killer-beheading-video-story-top Australia To Fund Great Barrier Reef Restoration
May 01, 2018 - 12:42
These have been recorded in 2016, and 2017 and almost 900 miles of the UNESCO World Heritage site has been affected. The reef is worth an estimated $3.7 billion to the Australian economy through fishing and tourism each day.

isis-killer-beheading-video-story-top JEE Main 2018 results to be declared soon
May 01, 2018 - 12:41
Although those who gave Paper-2 on April 8, their results will be released on May 31, 2018. All these questions are prepared by the item writers in original and they are handwritten.

isis-killer-beheading-video-story-top Not wave, there is BJP storm in K'taka: PM Modi
May 01, 2018 - 12:40
The answer is "no, we are angry with the government and we are pained". "India is a country of many faiths and religions". Salman Khurshid had also opposed the Congress' decision to impeach the Chief Justice of India .

isis-killer-beheading-video-story-top Bills GM denies that Josh Allen is 'raw'
May 01, 2018 - 12:40
One of the them is the big 6-5, 314-pounder from Virginia Tech, Wyatt Teller . "But he's got a lot of catching up to do". Giving up two second-round picks without trading the No. 22 pick this year or next year's first-round pick is fine.

isis-killer-beheading-video-story-top Jets fans cheer on team to victory in Nashvillle
Apr 30, 2018 - 11:51
Chad Gilbert says he had the costume kicking around, so why not throw it on and fit in with the rest of costume-wearing Jets fans. Things may or may not change for Game 2. "You could tell early on if he was seeing the puck he was going to make the stops".

isis-killer-beheading-video-story-top Thick-skinned Trump 'will definitely come to London'
Apr 30, 2018 - 11:51
Asked my Nick Ferrari if the President would be coming to London , Mr Johnson said: "Yes, he is, on the 13th July". A Downing Street spokesman said: "He will hold bilateral talks with the Prime Minister during his visit".

isis-killer-beheading-video-story-top Mike Pompeo is sworn in as secretary of state
Apr 30, 2018 - 11:50
The outgoing Central Intelligence Agency director secured support from 57 senators, with 42 voting no and one senator absent. Pompeo , a former Army officer who was a Republican congressman, is regarded as a Trump loyalist with hawkish world views.