Snap is getting absolutely crushed after falling short of Wall Street’s expectations
Snap just reported its first quarter of results since their IPO, and the initial reaction is far from positive.
A solid synopsis from Matthew Lynley at TechCrunch:
"The company said it brought in $149.6 million in revenue in the first quarter this year. It also said it lost $2.31 per share, though most of that was due to expenses related to stock-based compensation. Meanwhile, analysts expected the company to report an adjusted loss of 16 cents per share on revenue of around $158 million. In short, it doesn’t look good — and it looks like its user growth came in soft as well."