It's bad, but not unprecedented, reports the Los Angeles Times, noting Facebook stock fell 10% and Twitter stock fell 22% following the first quarterly earnings report after an IPO. Since then the company is trying to convince Wall Street that it can earn more money than Facebook from advertising while the rival company is penetrating aggressively into Snap's territory.
Snap emphasized on a call with analysts Wednesday that its users were spending more time than ever on Snapchat, as it seeks to convince investors that loyalty to its products matters more than the size of its user base.
Shares in Snapchat's owner have sunk after it reporteddisappointing growth in the first three months of the year.
Snap CEO Evan Spiegel said in the earnings call that the company refuses to engage in the type of "growth hacking" used by other companies, including sending lots of push notifications to get users to "do something unnatural". Kerr said in an interview earlier this year. "Just because Yahoo has a search box doesn't mean they're Google".
According to Reuters, the $27.98 billion company's weak user growth could be attributed to intensified competition from Facebook Inc (FB), which increasingly copies SNAP's formats across all its platforms. The company added 3 million users in Europe as well, to arrive at 55 million DAUs.
Trump's budget would squeeze additional savings beyond that , but congressional aides say how much is not exactly clear. But the proposed reductions could trigger a backlash for Republicans, complicating efforts to keep control of the U.S.
James and the Cavs are now ticked off, many believe, and they'll come out with a devastating swing to open up Game 4. Let's break down how it happened. "I feel like you have to have some type of adversity in order to be successful.
How much of the controversy facing President Trump is solid, and how much is politics? Meanwhile, Comey's counterattack unfolded. Republicans who have been incorrigible in their defense of the indefensible are suddenly showing glimmers of self-respect.
A neighbour captured the moment armed police stormed a house believed to be linked to the Manchester Arena suicide bomber. Rudd said she was not surprised "at all" that IS would have claimed the attack, but that she could not confirm any link.
It later annexed east Jerusalem in a move never recognised by the worldwide community and claims the entire city as its capital. The president spoke about signs he's sees that both sides are serious about wanting peace between their peoples.
Cavs push past Celtics in Game 4
On the night, Irving went 15-for-22 from the floor, including 4-of-7 from long range and 8-of-9 from the stripe. He scored the final 14 points in the 3rd quarter and scored 19 points in the final 4:48 of the frame.
Trump urges Israelis and Palestinians: Make peace
Back in Jerusalem , Trump gave a speech at the Israel Museum , where he said "my administration will always stand with Israel ". PRESIDENT DONALD TRUMP: So many young, beautiful, innocent people living and enjoying their lives, murdered by evil losers .
Cavs coach defends LeBron after 'weird' loss
Deron Williams, who had been quiet for most of the series, also got in on the act with a series-best 14 points for Cleveland. Fultz will give the Boston Celtics another great piece to go along with the solid nucleus that they already have.
Misbah, Younis out cheaply as Pakistan slip to
Misbah captained 56 Test matches for Pakistan , with the Pakistani team emerging victorious in 26 of them. Younis, on the other hand, has enjoyed his batting throughout his career by creating notable records.
Social media joins hunt for Manchester concert victims
They said in a statement: "Words can not express our sorrow for the victims and families harmed in this senseless attack". Sobbing, Charlotte Campbell took to global airwaves, pleading for anyone who may have seen Olivia to please come forward.
Subpoenas pile up for Flynn's documents
While Democrats allege that Sessions misled the Senate Judiciary Committee with that remark, Flores disagreed. CNN first reported the story Wednesday evening, citing as its source the Dept. of Justice.
Celine Dion's powerful 'My Heart Will Go On' performance
She recently broke Aretha Franklin's record for most songs placed on the Billboard Hot 100 chart by a female artist. Accepting the night's biggest award, Top Artist, Drake brought up a huge entourage that include Lil Wayne, Nick.