Snapchat shares fall 24% on first earnings report since IPO
The shares of Snapchat (now Snap) fell over 24% after it reported its first quarterly earnings since going public in March. Snap's revenue jumped nearly four-fold to $149.6 million but fell short of the average analyst forecast for revenue of $158 million. Its daily active users rose by 36.1%, down from the 47.7% rise in users for the fourth quarter.