The majority of the losses were attributed to stock-based compensation associated with the company's recent IPO.
Asked directly how anxious is he is about Facebook, Snapchat CEO Evan Spiegel let out a nervous laugh. Visit MarketWatch.com for more information on this news. The company's revenue totaled US$149.6 million in the first three months of the year, up 286% year-on-year.
Of note is the fact that Snapchat's core feature - photos and video clips that disappear after 24 hours - has now been copied by both of Facebook's acquired social companies, Instagram and WhatsApp.
Revenues were up almost four-fold compared to the same period a year ago at $149.6m but lower than the $158m expected on average by analysts.
Before Snap went public, the competition between the company and Instagram's Stories was heating up.
The company reported about $150 million in revenue.
Stunning OnePlus 5 Concept Puts Galaxy S8 on Notice
The OnePlus 5 gets a 5.5 inch 2560 x 1440px AMOLED display which is up from the 1080p standard the company has had from the start. In China, it is believed that the number 4 is bad luck, which is why OnePlus is skipping it and going straight to the OnePlus 5.
Snapchat parent company Snap reported its first quarterly earnings today after a much-hyped IPO earlier this spring. That's a 36 percent increase in DAUs, including a 5 percent increase from 158 million DAUs in quarter 4 of 2017. However, Snap's first quarter revenue fell by 11 percent when compared to the fourth quarter of 2016 when it generated $166 million. In short, this is a big problem for Snapchat as it was not being expected by the investors.
"We believe that everyone is going to develop a camera strategy", Spiegel said.
Asked if he was concerned about the growing popularity of Facebook's Instagram Stories, Spiegel brushed off the suggestion, saying "People are going to copy your products if you make great stuff". It is also moving towards hosting original programming, showing short clips to users who are moving away from traditional television. It is Snapchat which has popularised animated AR selfie masks and facial filters.
"Just because Yahoo has a search box doesn't mean they're Google", he said. These features aren't what many users go to Snapchat for.
Essentially, if Snapchat can't grow like Facebook, can it monetize like Facebook?