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Snap Inc. (SNAP) Short Interest Down 4.0% in July

Snap Inc. (SNAP) Short Interest Down 4.0% in July

The price of Snap Inc. shares fell as much as 15 percent to $11.69 a share in after-hours trading on Thursday, reflecting investor disappointment in Snapchat's parent company following a second-quarter earnings report showed slow user and revenue growth. Snap's daily active user base grew 4% sequentially from 166 million in the first quarter. The company had revenue of $149.60 million for the quarter, compared to analyst estimates of $158.32 million. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.13. In the first quarter, revenue declined on a sequential basis from $165.7 million in Q4 of 2016 to $149.7 million.

Daily active users: 173 million, down from 175 million expected.

Snap has an very bad Q2 earnings report... but at least its dancing AR hot dog was viewed 1.5 billion times.

Also weighing on the stock: Employees will also be able to sell their shares on the public market for the first time next week, presenting an ultimate test of confidence in the company. All CEO Evan Spiegel has to do is something he has disparaged since the company was founded: sell out ... to Alphabet Inc (NASDAQ:GOOGL), no less. He also said that 25% of people in the US, UK and France with smartphones use Snapchat every day.

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Not even the dancing hot dog can cheer up Snap's cranky investors. The dancing dog has been seen more than 1.5 billion times inside the app, Spiegel said, which is fun news indeed! Additionally, it seems that Publisher Stories - the platform for brands to publish their snaps - is becoming increasingly popular, with a 30% increase in views over Q1 2017.

Spiegel touted Snapchat's Memories feature, which acts like a camera roll for saving photos and videos that would otherwise expire. Instagram began mimicking Snapchat's key features previous year and boasts a much larger following - 250 million people daily use Instagram Stories, a feature developed by Snapchat that allows users to post disappearing pictures and videos for a 24 hour period. The pair's post-IPO lockup will expire Monday.

Although that's an easy way to grow daily users quickly, Spiegel said, Snap doesn't believe "those sorts of techniques are very sustainable over the long-term".

In the second quarter, more than 60 percent of ads were bought through the self-serve and the ads API platform, Khan said. Raymond James Financial, Inc. initiated coverage on Snap in a research report on Tuesday, April 25th. Snap's "other" revenue, which is largely comprised of Spectacles sales, was only $5.4 million, down from $8.3 million in the first quarter. While that's a gain of 21 percent year-over-year, it represents growth of 4 percent (or 7 million new users) from the previous quarter, down from growth of almost 24 percent in the second quarter of 2014.