Snapchat shares tumble 17% as results fall short

Snap Inc pulls an amazing revenue streak but losses quadruple

The Venice, Calif. -based company lost more money than Wall Street expected in the second quarter - 16 cents a share versus an anticipated loss of 14 cents a share - while missing revenue predictions by 2.4 percent.

Snap is down 26.47% since its initial public offering, not including Thursday's after hours plunge. While any rise is good, the 173 million total users still doesn't surpassed the 250 million daily active users on Instagram Stories, which celebrated its first birthday last Wednesday. Even Twitter is looking on in sympathy.

The technology world is scrutinizing Snap as an indicator of whether smaller social media companies can compete with behemoths like Facebook. The popular messaging company has been clobbered during its first six months on the public markets. "Bobby and I will not be selling any of our shares this year", said Spiegel.

Spiegel touted Snapchat's Memories feature, which acts like a camera roll for saving photos and videos that would otherwise expire. Earlier this year, Snap began selling Spectacles to all us consumers via its website, and in June, it began selling the wearable in Europe via its website and vending machines as well.

Eggs recall: 700000 distributed in United Kingdom contaminated with fipronil pesticide
The German Federal Institute for Risk Assessment (BfR) says the highest amount of fipronil measured was 1.2mg per kg of egg. Millions of eggs have been pulled from supermarket shelves in Germany as well as Belgium and the Netherlands .

Stephen Colbert to Interview Scaramucci Next Week
Scaramucci was removed the same day Homeland Security Secretary John Kelly was sworn-in. The former Wall Street financier was sacked July 31 after only 11 days on the job.

JD(U)'s Sharad Yadav revolts against Nitish, accuses him of betraying public mandate
Neeraj Kumar said that party's Muzaffarpur district unit has send a proposal to initiate disciplinary action against Ramai Ram . Though many supporters turned up at the airport to greet Sharad Yadav , there was no prominent JD (U) leader or MLA.

Until now. Facebook's Instagram Stories, a clear Snapchat clone, has more daily users than Snapchat itself — and parent company Snap Inc. should be very anxious. But Snapchat needs to get it together and play the game. At a certain point they just become another means of communicating.

Facebook owner Mark Zuckerburg made a $3bn cash offer for the app in 2013, but it was turned down by its founder, Evan Spiegel. We may not always agree with them but we know about them.

This was a "make or break quarter" for Snap, James Cakmak, an analyst at Monness, Crespi Hardt & Co., said in a note to investors. This is a figure that's actually grown since 2016 so Snap must be doing something right here.

Soured sentiment about Snapchat matters to employees, business partners and, most important, advertisers. This makes them the ideal way to engage with younger users. But to gain additional revenue from users, he said, Snapchat would have to beef up its content and rapidly improve its product. Cleveland Research lowered shares of Snap from a "buy" rating to a "neutral" rating in a report on Tuesday, July 25th. Being bought by a company that's predominantly a social media platform like Facebook would no doubt have been awful for Snapchat's individual identity but working with Google has the potential to be a different route. While Spiegel and other Snap executives spoke repeatedly about the progress the company was having in luring in big advertisers with features such as self-service ads, the absence of guidance that could buttress that optimism with Snap's estimates added to the uncertainty of its future.

Related news:

Hot News

isis-killer-beheading-video-story-top President Trump Will Declare A National Emergency Over The Opioid Crisis
Aug 12, 2017 - 00:32
George's son Zach Ziehm died from an overdose last year, after three years and four months of sobriety. Some folks I've spoken to on Capitol Hill don't know what it would mean in practical terms.

isis-killer-beheading-video-story-top Russian Surveillance Plane Flies Over Washington
Aug 12, 2017 - 00:30
On the Russian territory, a joint mission under the Open Skies Treaty was conducted jointly by the United Kingdom and Norway. Observation flights by member countries are allowed over the entire territory of other member states.

isis-killer-beheading-video-story-top Victor Cruz's salsa dance the highlight of Mitch Trubisky show
Aug 12, 2017 - 00:29
Glennon, meanwhile, threw a pick-six and finished with a passer rating that would make Bluto Blutarsky smile: zero-point-zero. At least one undrafted rookie has made the Broncos' final roster coming out of training camp in 12 of the past 13 years.

isis-killer-beheading-video-story-top Drivers told to learn school bus stop arm laws
Aug 12, 2017 - 00:27
A driver who passes a stopped school bus illegally is endangering children and is subject to significant fines and possibly other penalties.

isis-killer-beheading-video-story-top Scott, Day in the mix during PGA round one
Aug 11, 2017 - 00:42
The moment that summed up Spieth's day with the putter best (or is it worst)? "I'm sure he's going to have quite a big headache". Koepka politely introduced himself as "Brooks" to the standard bearer and scorer, as if they did not recognise the U.S.

isis-killer-beheading-video-story-top Traffickers push up to 180 migrants into sea off Yemen
Aug 11, 2017 - 00:40
More than 30,000 of these new migrants were under 18 years of age. The refugees were on their way to Gulf countries through Yemen .

isis-killer-beheading-video-story-top 60 former, current employees plan to sue Google over workplace culture
Aug 11, 2017 - 00:39
The allegations stem from a January lawsuit in which the Department of Labor asked Google to hand over compensation data. The political pressure led Google to add diversity and workforce issues to their lobbying agendas in Washington, D.C .

isis-killer-beheading-video-story-top Cuban diplomats expelled after alleged 'acoustic attack'
Aug 11, 2017 - 00:38
Florida Senator Marco Rubio said the alleged incidents were just the latest examples of harassment toward U.S. diplomats in Cuba. She added, "We're taking that situation seriously, and it's under investigation right now".

isis-killer-beheading-video-story-top Babysitters Arrested After Putting Baby in Refrigerator
Aug 11, 2017 - 00:38
Ambrose confirmed the horrific details of the allegation in an e-mail Thursday morning. Ambrose said the infant is with a parent and is doing well.

isis-killer-beheading-video-story-top Rafael Benitez admits to his frustrations at Newcastle United
Aug 11, 2017 - 00:32
Former Liverpool boss Benitez has endured of hard summer, having been frustrated in his attempts to bolster a squad that won The Championship last season. "I try to do my best now".

5 things you need to know about the eclipse
Aug 10, 2017 - 00:41
In Syracuse, the moon's shadow will cover about 85 percent of the sun. "It's a very handsome and interesting sight", Walter said. I hate to think that kids - or anyone, really - missed out on the eclipse because they thought it was something to fear.

isis-killer-beheading-video-story-top Canadian pastor released over health concerns: North Korea
Aug 10, 2017 - 00:40
A spokesperson for Trudeau would only confirm that a Canadian delegation is present in the internationally isolated capital. The 62-year-old was in poor health and wrote letters to his friends stating he had stomach pain and high blood pressure.

isis-killer-beheading-video-story-top Rachel Lindsay and Bryan Abasolo wrote love notes to each other
Aug 10, 2017 - 00:39
Nevertheless, she said an emotional goodbye to runner-up Peter Kraus . Eric also teased that they would be meeting again in the future.

isis-killer-beheading-video-story-top Text of United Nations chief's message to Nagasaki ceremony on A-bomb anniv.
Aug 10, 2017 - 00:38
In a speech, Japanese Prime Minister Shinzo Abe expressed his commitment to "realizing a world without nuclear weapons". Many suffer from long lasting effects of radiation.

isis-killer-beheading-video-story-top Trump Won't Declare State of Emergency Over Opioid Crisis
Aug 10, 2017 - 00:35
The group was charged with studying "ways to combat and treat the scourge of drug abuse, addiction, and the opioid crisis". Earlier this month, the Commission issued its draft interim report ahead of the release of a final report later this year.