Snapchat
blew its
first-ever earnings
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Snapchat found more friends and made some money — but far far fewer than analysts had hoped. It's **t good.
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Snapchat's new world lenses are its biggest push into augmented reality
How bad? Really bad.
Snapchat shares dropped 20 percent just minutes after the
earnings were first released.
Snapchat is **w at 166 million daily active users. JPMorgan had expected
Snapchat to reach 169 million daily active users, an 8 million increase from the 161 million the company reported when it filed to go public.*
That's under expectations and far under Facebook's more than 1 billion daily active users and nearly 2 billion monthly active users. It's also far below Instagram's more than 400 million daily active users, 200 million of whom watch Instagram Stories, its copycat version of one of Snapchat's core products.*
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