Shares in Snap , the parent company of social media site Snapchat , fell by 15 % after the company reported a 2.13 % growth rate to 191 million daily active users in Q1 2018 , the firm 's slowest ever , alongside earnings of $ 230.7 m , less than Wall Street 's figure of $ 244.5 m . In addition , Snap , which is struggling to compete with Facebook - owned rivals Facebook and WhatsApp , revealed earnings of $ 385.7 m , up from fiscal 2017 's figure of $ 350 million . In addition , average earnings per user sank to $ 350 in the US and Canada , down from $ 2.75 in 2017 .
Shares in Snap, the parent company of social media site Snapchat, fell by 15% after the company reported a 2.13% growth rate to 191 million daily active users in Q1 2018, the firm's slowest ever, alongside earnings of $230.7m, less than Wall Street's prediction of $244.5m. In addition, Snap, which is struggling to compete with Facebook-owned rivals Instagram and WhatsApp, revealed losses of $385.7m, up from Q4 2017's figure of $350m. In addition, average revenues per user sank to $2.10 in the US and Canada, down from $2.75 in Q4.