Snape’s financial results for first quarter of 2017 suggest that Facebook won it




Snape said its monthly active users were 166 million.
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Snape announced Wednesday its first-quarter financial results, which showed that Facebook may have defeated Snap Chat , which has worried the company’s investors about its future and competitiveness.

Snape said its monthly number of active users was 166 million, about 34 million less than the number of users of the Snapshot Chat feature, launched by Facebook owner Instagram in early August.

Instagram is believed to have been the hit on Snape, especially after failing previous attempts to launch rival services such as Poke and Slingshot. The number of users of the active feature was almost eight months after it was launched More than 200 million.

After Facebook announced last April that more than 200 million active users of the Instagram story every day, Snape investors began to worry about the company’s ability to compete, especially with the large number of users. Snape announced in December, Last December for 158 million users.

Snape fell 23% on Wednesday, losing nearly $ 6 billion in market value after its financial results, the first since it turned public, showed a slowdown in user growth and revenue.

According to the financial results, Snape’s loss has increased to $ 2.21 billion, or $ 2.31 per share, from $ 104.6 million, or 14 cents per share, due to share-based compensation related to the IPO.

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