Snap posts big 1Q loss, higher revenue, misses expectations
The owner of Snapchat, the popular disappearing message application, reported a net loss of $2.2 billion in the January-to-March period.
Evan Spiegel, co-founder and chief executive, said on a conference call the company had been working on performance improvements and promoting its Android app, which could offer more growth globally compared with Apple's iOS.
The company has warned that it will take years to be profitable, with analysts not expecting it to break into the black until at least 2019. Its earnings (EBITDA) increased by 102% to US$93 million and average revenue per user rose 181% year on year to 90 cents - down from $1.05 in the previous quarter. In the Rest Of World region, the company reported adding just 1 million users.
"The bottom line is if you want to be a creative company, you got to get comfortable with and basically enjoy the fact that people are going to copy your products if you make great stuff". Companies that tend to have massive user growth and growing revenue streams (Facebook) don't tend to focus as much on how many "snaps" users look at. In addition, it only added 8 million new users quarter-to-quarter, an increase of 5 percent, to 166 million. Its nearest competitor Facebook-owned Instagram now has 700 million users, with its "Stories" feature having 200 million daily active users.
Windows 10 S won't be able to run Linux distros
The Windows team is committed to delivering built-in assistive technology that exceeds our users' needs and expectations. The service includes the ability to extract text from images using optical character recognition.
Former asst. special counsel: Don't expect public updates
Congressional leaders have emphasized that House and Senate investigations will continue irregardless of other investigations. In naming Robert Mueller , the United States deputy attorney general said it was in the public interest to pick an outsider.
"Snap user growth is nearly zero". Snap revealed user growth has slowed considerably in its first quarter that ended March 31. This is three times what it was at the same time past year but with a sharp decline from the previous quarter. When questioned about this competition with Facebook Spiegel said that "Just because Yahoo has a search box doesn't mean they're Google".
Snapchat, however, has already been more than eclipsed by Instagram Stories.
During its initial IPO earlier this year, Snap explained that its user growth was somewhat stagnant, but nevertheless, it is still pulling in new users.
For comparison's sake, let's see how other publicly traded companies did in their first earnings report.
Google extends AI features into more of its apps, tools
The crowd of developers in the audience cheered: millions of new iPhone users to reach for innovative voice-based interactions. Google is also adding a feature to Photos to create soft-cover and hard-cover albums of pictures at prices beginning at $9.99.
A Look at Iran's Presidential Candidates
Raisi also has promised monthly cash payments to the poor, a populist move that's been popular with Iranian voters in the past. The presidential race has since narrowed to a two-horse race as other candidates either pulled out or backed Rouhani or Raisi.
Expert who beat cyberattack says he's no hero
His mother Janet, a nurse, couldn't be prouder - and was happy to have the veil of anonymity lifted. Since Friday, malware has infected an estimated 300,000 computers in 150 countries.
Trump May Take Spicer Off the Briefings
In related news, Trump is reported to be "furious" that Fox News host Kimberly Guilfoyle has openly sought Spicer's job . Last week , Trump threatened to cancel all future press briefings "for the sake of accuracy" in an early morning tweet.