Snap stock is down big after reporting less revenue — and fewer users — than Wall Street expected - Recode

Ephemeral expectations

"Snap reported revenue of about $208 million, roughly 12 percent less than the $237 million analysts were hoping for. Snap also reported a net loss of $443 million on the quarter.

Snapchat also reported disappointing user growth. The company added just 4.5 million new daily users; analysts were expecting closer to eight million new users. It now has 175 million total daily users.

Snap stock was down more than 18 percent in early after-hours trading."

Snap stock is down big after reporting less revenue — and fewer users — than Wall Street expected - Recode