Snap faced the music in a new and very real way this week. The company’s first earnings report, after going public in March, disappointed investors and fell short of expectations on almost every metric.
The makers of Snapchat reported a $2.2 billion loss in the first quarter on almost $150 million in revenue and user growth slowed to its lowest rate in years. Shares took a nosedive and remain down by more than 20 percent at the week’s end.
[ Related: Snap soars on IPO, now what? ]
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May 13, 2017 at 02:21AM
from Matt Kapko
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