Another number investors were paying keen attention to was the size of the company's user base. Snapchat's DAUs came in at 173 million, an increase of 7.3 million over the first quarter's 166 million.
Snap is down 26.47% since its initial public offering, not including Thursday's after hours plunge.
The brass at Snap kept talking about "early days" after announcing disappointing results, but investors reacted as if the end was near.
For a few months, Snap's stock stayed above its I.P.O. price. They debuted on the stock market at $17.
In after hours trading, shares of the company are down almost 13%.
Global Equities Research analyst Trip Chowdhry stamped Snap "total junk", arguing that it lacks the fundamentals to succeed.
Snap CEO Evan Spiegel's comments about "growth hacking" were not entirely satisfactory for one Wall Street analyst.Michael Kovac/Getty Images for Vanity FairA Wall Street analyst upstaged Snap CEO Evan Spiegel on the company's Q2 conference call thanks to a classic "hot mic" snafu.
Media stories about Snap (NYSE:SNAP) have been trending somewhat positive recently, Accern Sentiment reports.
What's more, 4 million of those new users came from the US and Canada, the market that's best monetized by Snapchat. Suffice it to say, the recent June quarter was an important one for Snap Inc., especially as Facebook continues to steal features from Snapchat and implement them with great success. Canaccord Genuity restated a "hold" rating and set a $22.00 target price on shares of Snap in a report on Friday, May 12th.
A focus on potential long-term gains instead of current financial performance is a common theme for Snap, which just began deriving revenue from its popular Snapchat app in 2015.
The share price fall extended a decline that started nearly immediately after Snapchat started trading on the stock market this spring.
Snap shares were down 13.36 per cent at $11.93 in extended trading. The company only added only eight million daily users that quarter, which was the smallest sequential add the company mustered in three years. Oppenheimer & Co. Inc. now owns 19,816 shares of the company's stock valued at $352,000 after buying an additional 3,447 shares during the period.
2016 down as warmest year on record
The draft report makes clear the depth and breadth of the evidence for how and why the climate is being disrupted. Recurring natural shifts in atmospheric patterns can affect temperature and precipitation from months to years.
Game over, you lost: Imran to Nawaz
Khan's court victory against the Sharif family creates the possibility that he could become the country's next prime minister . A plan to address supporters in Islamabad was canceled due to security reasons and paucity of time, party leaders said.
'Fire and fury' not 'tough enough': Trump
It's not the first time North Korea has threatened Guam, which is a crucial, strategic hub for U.S. forces in the Pacific. Such a launch would almost compel the United States to attempt an intercept and possibly generate further escalation.
Look out for fake eclipse glasses
Most any of the solar shades you find should work as long as they are compliant with 12312-2 worldwide safety standards . On August 21, you may want to head outside during your lunch break to catch the 2017 total solar eclipse .
Dow Tumbles as North Korea Tensions Simmer
TIME OUT: Fossil tumbled 23.7 percent after the watch maker said sales continued to weaken, falling short of analysts' estimates. The weakness reflected geopolitical concerns amid a continued increase in tensions between the US and North Korea .
Germany urges China, Russia to rein in North Korea
Pyongyang responded by saying it was studying plans for an attack on Guam, a US territory and home to Andersen US Air Force Base. McCain says he takes exception to Trump's comments "because you got to be sure you can do what you say you're going to do".
Stocks Remain Firmly Negative In Mid-Day Trading
The S&P hasn't moved more than 0.5 per cent in a day since July and has fallen more than one per cent only twice this year. Commodity investors were looking at a positive start to the day earlier, with both gold and crude oil futures wanted.