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Analysts had been expecting Snap to post revenue of about $244 million, but it generated just $230.7 million for the quarter.

Snap fell short of analyst expectations of growth of 7 million new users for the quarter versus the same period in the previous year, bringing in just 4 million, to reach a total of 191 million worldwide.

Shares were down 16% after hours.

King Salman launches construction of Saudi Arabia's 'Disneyland'
For years, Saudi Arabia has made normalizing relationships with Israel contingent on Tel Aviv's withdrawal from those lands. The Saudi royal said Palestinian leaders should either accept peace proposals offered by the United States or "shut up".

The company has been struggling to recover from its controversial Snapchat redesign, which has pushed away some of its core users. User growth rose 5% in the last quarter of 2017 and 3% in the third quarter.

"As we have mentioned on our past two earnings calls, a change this big to existing behavior comes with some disruption, especially given the high frequency of daily engagement of our community", CEO Evan Spiegel said.

The daily active users figure also came in below Wall Street's expectations of 194 million.

Rounding up the 2018 NFL Draft grades
Teller will be reunited with Virginia Tech teammate Tremaine Edmunds who the Bills drafted in the first round Thursday night. He had 49 tackles, three for a loss. "If we played in a dome, we still would have drafted Josh Allen ", the GM declared.

Striking a tone of cautious optimism, Spiegel said: "We are already starting to see early signs of stabilization among our iOS users as people get used to the changes". Celebrities like Kylie Jenner have publicly tweeted about disliking the redesign, causing Snap's stock to plummet 6.1% in a single day.

Despite poor sales, last month Snapchat confirmed a second generation of Spectacles were on the way, with a slimmer design and new ability to take still pictures as well as capture video. Chrissy Teigen, a model and TV personality, said she stopped using the service in March.

Is $500m enough to save the Great Barrier Reef?
He commented on Twitter that "you can not "rescue" the Great Barrier Reef without cutting carbon emissions". The new package build on the joint $2 billion Australian and Queensland Governments' Reef 2050 Plan.


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