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Investors were impressed. The company's shares, which have almost halved in the past year, rose more than 20 percent in after-hours trading to $16.95.

The Snapchat messaging app owner said its revenue rose 72 per cent to $285m in the three months to the end of December, beating analyst expectations, while its net loss widened to $350m, or 28 cents per share. And when it came to operating expenses, Snap lost $350 million compared to the $440 million they lost last quarter.

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But while Snapchat may still be the go-to place for teens and college students to share photos and short videos with friends, the problem for Snap is that it's hard to monetize that content. If the gains hold, Snap's stock could open above its IPO price of $17 a share for the first time since July. Sales for the year as a whole doubled to $825 million. The business had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million.

Snap shares closed the day up more than 1 percent to $14.06.

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"Our work during 2017 is proof that we aren't afraid to make big changes for the long-term success of our business", said Snap, Inc. It was Snap's fourth quarterly earnings as a public company. However, even if it hits that number, it would still represent the sixth straight quarter of year-over-year revenue growth deceleration. The company's stock chart Tuesday afternoon looked similar to the trajectory of Elon Musk's SpaceX rocket, launched into outer space just minutes before Snap reported - straight up.

In Facebook's earnings call last week, Facebook CEO Mark Zuckerberg called WhatsApp and Instagram the two most-used Stories products in the world, and said, "Stories are on track to overtake posts in feed as the most common way that people share across all social apps". The company has demonstrated meteoric growth in users since 2014, quadrupling its user base since January 2014 from 46 million to 187 million.

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Snap spends a ton of money and the company is still not profitable. Some of those costs are due to expensive cloud services deals with Google and Amazon that once signaled that Snap was bracing for an explosion of user growth.


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