Snapchat User Growth Disappoints in Another Down Quarter
video that Snap put together, Mr. Greenfield said, “essentially nothing you heard today sounds like what you heard back then.”
In total, Snap’s third quarter revenue was $207.9 million, up 62 percent from a year ago but below Wall Street estimates of $235.5 million.
“This has been a good test for our business.”
Mr. Spiegel also said that Snap was redesigning its app to make it easier to use and
that the company would focus on user growth in 2018, as well as on content and augmented reality.
Snap added 5 million users to its Snapchat messaging service from the previous quarter,
but that, too was below estimates from Wall Street, which expected 8 million new users.
The company reported revenue for the third quarter
that missed Wall Street expectations and also posted a larger-than-expected loss, as well as high costs.
Its net loss was $443.2 million — nearly four times the size of the loss a year ago and more than twice as large as what analysts had predicted.
