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So far, Snap’s business looks even worse than Twitter’s

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Snapchat reported its second quarterly earnings as a public company today. It grew its user base and revenue, but not as quickly as investors had hoped. And its losses continued to widen. As a result, the share price, which had already dipped well below the IPO price, continued to slide in after-hours trading, falling more than 11 percent.

Snap said its daily active user base was up by 7.3 million people from last quarter, an increase of 4 percent. That puts its total at 173 million, likely a little bit ahead of Twitter and far behind Instagram — or even just Instagram Stories, a feature that copied Snapchat’s main product.

Snap’s revenue was up 153 percent from the same period last year, rising to $181 million. But the amount of money…

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via GeekNews http://ift.tt/2vJh8BX

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