It might be a beautiful day in Venice, CA, but things at the beach-headquartered Snap are not so sunny at the moment. 。
Snap reported disappointing revenue in its Q1 earnings report on Tuesday — and the market reacted like the volatile, fickle beast that it is. 。
SEE ALSO:Snapchat blew its first-ever earnings 。Snap missed investor expectations big time, reporting a quarterly revenue of $231 million. The expectation was $244.5 million, according to a Thomson Reuters consensus estimate. 。
And things aren't likely to improve any time soon. CEO Evan Spiegel said that Snap's growth is stalling. 。
"We are planning for our Q2 [revenue] growth rate to decelerate substantially from Q1 levels," CFO Drew Vollero said. 。
Thanks for signing up! 。
It's not a good look for Snap, especially in light of the optimism surrounding last quarter's successes. Q4 of 2017 came in with $286 million in revenue and 18 percent year over year user growth. There was hope that last quarter marked a turnaround for the company after the company's initial financial stumbles post-IPO. 。
But then, the redesign happened, and high-profile users and teens alike expressed anger with the new layout. Now, the app that insists it's a "camera company" is back to underwhelming investors. 。
"As we have mentioned on our past two earnings calls, a change this big to existing behavior comes with some disruption, especially given the high frequency of daily engagement of our community," Spiegel said. "We are now focused on optimizing the redesign based on our ongoing experimentation and learning." 。
We'll see if Kylie approves. 。 We'll see if Kylie approves. 。
This post has been corrected to attribute a quote about Snap's revenue growth rate to CFO Drew Vollero. It was originally misattributed to CEO Evan Spiegel. 。
(责任编辑：百科)
This company is hiring someone just to drink all dayWoman loses engagement ring, finds it on a carrot 13 years laterThe internet roasts the New York Times Opinion section with memesYou can still make lastMichael Phelps says goodbye to the pool with Olympic goldFake news reports from the Newseum are infinitely better than actual news
Actual investigative journalism: who needs it?At least, that's what some people will likely conclude
...[详细]Did Sam Tarly just become one of the most powerful men on 'Game of Thrones'?
Now that 。 Game of Thrones。is picking up the pace of plot development, there's a lot to process. One
...[详细]Clever dude scored amazing seats at the Mayweather vs McGregor fight by posing as a bodyguard
Floyd Mayweather might have walked away from Saturday night's fight with Conor McGregor a winner, bu
...[详细]How to put old photos in your social media stories
Stories started with Snapchat, then Instagram and Facebook added their own versions to try and win o
...[详细]Despite IOC ban, Rio crowds get their political messages across
The Olympics aren't meant to be a place for political expression -- the International Olympic Commit
...[详细]YouTube redesign adds new logo and vertical videos that don't look bad
In case there were still any doubts: vertical videos are here to stay.。YouTube will soon update its
...[详细]It's official: Android O is now Android Oreo
Google has finally revealed what the "O" in Android O stands for, and it's exactly what we all predi
...[详细]Happy Saturday, Facebook and Instagram are down
Users began reporting problems accessing Facebook and Instagram on Saturday morning, and after sever
...[详细]Tributes flow after death of former Singapore president S.R. Nathan
The Singaporean government has announced that former president, 92-year-old Sellapan Ramanathan (wid
...[详细]Trump's new poll is A) dumb B) pointless C) laughable D) all of the above
The Republican National Committee is at it again with the absurd Trump polls.。According to a recent
...[详细]Plane makes emergency landing after engine rips apart during flight
Prince Harry shares his anger at the paparazzi for photographing his mother as she lay dying
