Snapchat's disappointing growth leads to shares slump
Snapchat's disappointing growth leads to shares slump
19 May, 2017, 23:14
For the first quarter of its fiscal year, Snap reported a net loss $2.2 billion, or $2.31 a share.
Snap CEO Evan Spiegel is "so arrogant" and needs to find some humility, CNBC's Jim Cramer said Thursday. The company's expenses after going public, however, face it with a long-term challenge to become profitable again and have sparked worries among investors.
Analysts from J.P. Morgan anticipated Snap's DAUs to increase to 169 million by the end of the first quarter.
"When we talk about growth. we want to use creativity" to boost Snap's number of daily users, Spiegel said.
When asked if he feared Snap would be crushed by Facebook, Spiegel replied: "You have to get comfortable with the fact that people are going to copy you if you make great stuff".
Recently, reports started flooding in that Instagram's massive presence in the global market is stifling growth for Snapchat. And although Snapchat had a 36 per cent jump in daily active users on a year over year basis, it added just eight million new users (five per cent), from last quarter. That could be a plausible explanation for Snapchat's own slow user growth over the Jan-Mar quarter.
Since the Snap IPO, Facebook has been very aggressive about copying Snapchat.
Snapchat added just five million daily active users in the final three months of a year ago, down from at least 10 million added in each of the previous four quarters.
Facebook, which once made a $3bn bid for Snapchat, has upped the ante by making the camera a central piece of its apps and offering features similar to Snap on its platforms, including Instagram and WhatsApp.
Just this week, Snap gave users the option to let their messages last indefinitely rather than disappearing after 10 seconds. An estimated 8 million new Snapchat accounts were created in the last quarter, the slowest user-growth quarter yet.
From a long-term business perspective, Snap Inc. has to come up with ideas to not only expand its user base beyond messaging, but also beyond millennials. The company had aimed to accrue a further two million new users.
Ford to invest $350 million in Michigan plant
The transmission will be built as a new, advanced transmission for front-wheel-drive vehicles, created to be more fuel-efficient. The plant employs a total of about 1,800 people and makes transmissions for the Mustang, F-150 and other vehicles.
The council has never allowed a woman to run for president and routinely rejects candidates calling for dramatic reform. Mohammad Khatami, another reformist who served as Iran's president from 1997 to 2005, also has endorsed Rowhani.
Créditos La película será producida por Yoshi Ikezawa y Joseph Chou de Toei Animation , junto al fundador de ARGF, Jeffrey Chan. La producción ejecutiva será de Tim Kwok de Convergence Entertainment, Miguel Faura y Kozo Morishita de Toei Animation .
Commissioner Kristen Branscum said the report shows that tourism is "a vital economic driver" for the state. Kentucky officials are planning to announce how much tourism impacted the state's economy a year ago .
Expedia Inc . (EXPE) belonging to the Retail-Wholesale sector has surged 1.64% and closed its last trading session at $145.37. The Company operates through four segments: Core Online Travel Agencies (Core OTA), trivago , Egencia and HomeAway .
Steinhaus was designated as one of the refs at the Women's World Cup finals in 2011 and 2015 as well as the 2012 London Olympics . The German Football Association ( DFB ) hopes the announcement will encourage more females to become referees.
The New York Times reported on Friday that Comey had resisted a request from Trump that he pledge loyalty to the President. Even before Trump's provocative tweets, the White House was scrambling to clarify why Comey was sacked .
The analysts estimated EPS for the higher end at 0.2 and lower end at 0.12 while the year ago reported earnings per share was 0.1. Sponsored (NYSE:CX) to Buy setting price target at $12 and on 11/09/16 Bank of America "Downgrades" the stock to Neutral at $0.
He told De Telegraaf it "seemed nice to fly to other destinations one day, with more passengers and bigger distances". He admits, however, that when he does make announcements, "most people don't listen anyway".
WHITING PETROLEUM CORPORATION (WLL ) has received mean Analyst rating of 2.53 from polled analysts at Reuters One Month Ago. Finally, Neuberger Berman Group LLC boosted its stake in shares of Whiting Petroleum Corp by 1.5% in the third quarter.
WikiLeaks says the ball is now in Britain's court after Sweden's decision to drop its rape investigation of Julian Assange. He has been there ever since, fearing that if he is arrested he might ultimately be extradited to the United States .
Trump will meet with are former Federal Bureau of Investigation official Richard McFeely and former Oklahoma Gov. Trump said Thursday that he respected Mueller's appointment, but he denounced the probe as a "witch hunt".
Vinicius ya es del Real Madrid
Esto mismo lo dijo el ex presidente del Flamengo, Kleber Leite , en un contundente artículo que escribió en su blog. Amigos, no está más cerca del Real Madrid . "Él ya está en el Real Madrid ".
US Navy moves second aircraft carrier near Pyongyang
South Korea's military officials said the reclusive North apparently stands ready to conduct another nuclear test. Trump later said he would be "honored" to meet North Korean leader Kim Jong Un under "the right circumstances".
Chapecoense podría quedar fuera de Libertadores por trampa
Por otra parte, el delantero Mauro Albertengo reaparece entre los convocados luego del desgarro que sufriera a comienzos de mes. Russo aseguró que fue el entrenador Jorge Almirón quien se dio cuenta de la irregularidad al ver la planilla de jugadores.
Nuevo hallazgo arqueológico en ruinas del Templo Mayor mexica
Además de esto, sus piezas estaban pintadas con destellos cromáticos a partir de cinco pigmentos que transformaban la percepción. Nuestro color, integrada por 20 piezas de la cultura mexica, la cual muestra el cromatismo en el arte de esa civilización.
Google Home gets some new features at I/O
It lets users create a virtual map of your office space and use the algorithms of Maps to lead you to his or her destination. Android O, the next version of Google's mobile operating system, will be released "later this summer", the firm said .
Rod Rosenstein Knew Comey Was to be Fired Before He Wrote Memo
Rosenstein learned about Trump's plan on May 8, Durbin said. "Russia's fine", Trump said. "We are looking at counterintelligence". And I think Jonah's right: The appointment of a special counsel is what the president needs and helps him in the short run.
PM speaks to newly elected French President
Macron's task will be to show Le Pen's voters that he will follow through on promises to fundamentally reform the 28-nation bloc. Market reaction Monday to Macron's victory was subdued: investors were expecting it and seem wary of the difficulties he faces.
Trump taking away Sean Spicer's public appearances
Those briefings could soon be a thing of the past, however, according to a number of recent reports by White House watchers. Her name was floated by The New York Times as a person President Donald Trump suggested he'd be interested in hiring.
Chivas elimina al Atlas
La última vez que Chivas llegó a semifinales fue en el Clausura 2015 cuando se enfrentaron a Santos, que quedó campeón. El Atlas basó su victoria en el esfuerzo físico de sus jugadores y en cerrarle los espacios al cuadro de las Chivas .