Analysis: Snap Posts Losses in First Earnings Report Since IPO

Following Snap Inc's (NYSE:SNAP) successful IPO in March, the first earnings call announced today (10 May) leaves a little to be desired. Opening on IPO day at USD$24 (£16.42), 41% above the USD$17 (£11.63) issue price in March, Snap promised big things, but the company's Q1 earnings report has caused a post-trading sell-off: closing the day's trading at USD$22.98 (£15.72), the announcement is continuing to drive that down, with an after-hours share price of USD$17.19 (£11.76) at time of writing. 

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