Snap reports awful first-ever earnings ... and the tweets are hilarious

Social media network Snap, which went public in March in a frenzied $US33 billion IPO, reported its first ever earnings on Wednesday.

It missed analysts’ projections wildly on revenue and the number of users it added to its network.

And there were other bits of bad news in there as well, such as the rise in its costs.

Although the company warned investors in its prospectus that it “may never” be profitable, its first-ever earnings sent the stock tumbling anyway, over 20% as we write this.

Naturally the internet via Twitter had plenty of things to say about it, and quite a few jokes. 

 

Get the latest Snap stock price here.

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