Lindsay Stein
May 2, 2018

Snap shares plunge as Q1 revenue, user growth miss expectations

Drop-off associated with app's recent redesign.

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,...

To continue reading this article you need to be registered with Campaign. Registration is free and only takes a minute. Register Now or sign in below if you already have an account.

Existing users sign in here

Forgotten Password?

Having trouble signing in?

Contact Customer Support at
customerservices@campaignasia.com
or call+852 3175 1913

Membership

Why Subscribe?

  • Campaign Asia-Pacific online premium content* including in-depth monthly focus on key trends and industry issues
  • Unlimited website access*, and an archive of more than 70,000 articles
  • Regular value-added supplements including brand health checks, sector studies, ad critiques and research charts
  • Daily newsletters and breaking story alerts straight to your inbox
  • New weekly feature articles on the latest research, innovation and marketing trends
  • Be the first to hear about industry events

or call +65 9771 3034
or email subscriptions@campaignasia.com

Follow us

Top news, insights and analysis every weekday

Sign up for Campaign Bulletins

Related Articles

Just Published

Premium
Pizza Hut puts durian on pizza (really)
Premium
25 minutes ago

Pizza Hut puts durian on pizza (really)

This is not not a joke. We checked.

Premium
Asia business robust despite UK troubles: M&C Saatchi
Premium
1 hour ago

Asia business robust despite UK troubles: M&C Saatchi

Three of top six offices for the agency are in the region, and they continue to win new business and add headcount, according to the agency's Asia head.

Premium
Roku's Dataxu acquisition only included the US and UK
Premium
1 hour ago

Roku's Dataxu acquisition only included the US and UK

Roku only acquired one of Dataxu's four international offices.

Premium
Meet the 2019 40 Under 40: Deric Wong
Premium
2 hours ago

Meet the 2019 40 Under 40: Deric Wong

Read about Deric Wong of Omnicom Media Group, one of the 40 young industry professionals we've selected as representing Asia Pacific’s next generation of marketing and communications leadership.