Shares in Snap plunged 24 per cent in after-hours trade to US$17.45 following the results.
Evan Spiegel, Snap's secretive 26-year-old CEO, told analysts on a conference call that he thinks about user growth "through the lens of creativity".
"People are going to copy your product if you build great stuff", Spiegel said.
Google VR Headsets Will Be Untethered And Fully Tracked
They will also be able to virtually place the product in the living space to get them an idea of how the product could look like. The new devices won't require a phone or PC and will be made available to consumers later this year.
The vague response did little to ease Snap's nosediving stock. The company, founded in 2011, lost more than $500 million a year ago on revenue of about $400 million, it disclosed in regulatory filings.
Year-on-year growth in users was 36%, slowing from 48% in the fourth quarter and 63% in the third quarter.
In an interview with CNBC, Snap's chief strategist Imran Khan said, "We made good progress this quarter improving the performance and quality of our Snapchat application, especially on Android, which has helped result in increased net user adds and engagement".
Since the Snap IPO, Facebook has been very aggressive about copying Snapchat. While the company's finances are less than stellar, the good news is that Snapchat's user base has grown a tremendous amount in just the a year ago. "Just because of Yahoo! has a search box doesn't mean they're Google".
Alabama lawmakers send education budget to Gov. Kay Ivey
The Senate, by a 19-13 vote, added an amendment Wednesday to specify that insurers do not have to provide the coverage to adults. On Tuesday night he voted no in committee wrangling over the bill, voting against coverage of a child being capped at age 18.
Just two months into its life as a public company, Snap is struggling.
The social network argued during its earnings call that numerous teenage users it has can't be reached by traditional television or print advertising, according to the Verge.
The question has been whether Snap can quickly grow its user base and, in time, turn a profit.
Snap shares got destroyed in the aftermath of the social network's first earnings report, likely hitting younger investors the most, according to data from Wall Street brokers.
NSA warned Microsoft about vulnerability connected to 'Wanna Cry'
It should be noted that Windows XP is an outdated version of Microsoft's Windows operating system, which first launched in 2001. The WannaCry ransomware has septic over 350,000 computers across the globe in last few days.
Shares in Twitter (NYSE:TWTR) and Facebook also slid after they posted debut scorecards. Unfortunately, it wasn't enough to prevent investors from making a run for it. Twitter was hurt by concerns about slowing user growth (sound familiar?).
- NBC Hopes Special Counsel Subpoenas Trump Tax Returns
- Lookin At Lee eyes Preakness glory after strong run in Derby
- Sweden Drops Rape Investigation Against Julian Assange
- CytRx (CYTR) Receiving Somewhat Favorable Press Coverage, Study Shows
- Joe Lieberman is front-runner for Federal Bureau of Investigation director
- Reliable journo confirms Ryan Sessegnon is Liverpool's top left-back target
- Orrstown Financial Services Inc. Sells 429 Shares of Walt Disney Co (DIS)
- Platform Specialty Products Corp's (PAH) Buy Rating Reaffirmed at Nomura
- First woman to referee in Bundesliga is also Webb's girlfriend
- CEMEX, SAB de CV (CX): Notable Moving Stock