Even though Snap’s first-quarter revenue rose 54%, year-over-year, to $230.7 million, the growth was below average analyst estimates of $244.5 million, causing the company’s shares to drop nearly 19% Tuesday evening.
Daily active users on Snapchat’s mobile app came in at 191 million in Q1, which was a 15% increase, year-on-year, but also missed analyst predictions of 194.3 million, according to Bloomberg.
Many attribute this quarter’s miss to Snap’s redesign,...
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