Snap Inc. Reports First Quarter 2017 Results
Some quick highlights as to why the stock is being punished.> Adjusted Ebitda Loss $188.2M, Est. Loss $176.9M> 1Q Daily Active Users 166M, Est. 168M> 1Q Rev. $149.6M, Est. $158.6M> 1Q Loss/Shr $2.31I'm guessing the big issue is the miss on Daily active users.  This is the same thing that caused the street ot hammer twitter.Rule of thumb for non profitable tech companies....If you are a company that isn't making a profit and you continually preach look at the users, look at the users. and then fail to even hit your target on that, you're going to get punished.....heavily.Or put another way, you can either make a profit or make your non GAAP numbers, but you have to atleast hit one of the two.One other issue from the Bloomberg momentary....> A very key number here is revenue per user. Snap's results today are  indicating average revenue per user at 90 cents. This is down from $1.05 (14%) from what it reported for Q4 2016, before its IPO.To be completely fair, SNAP management wanted full control to build for the long term and Facebook was down 12% after their first earnings report and Twitter was down 24% so it might just be that its painful for rookie CEOs to manage a public company.Too bad for employees that this comes before the lock up period ends.EDITJust on the earnings call, they said they don't break out Spectical's numbers but the revenue it generated was about $8 Million.