=Snap (SNAP) reported earnings on Wed 10 May 2017 (a/h)

• 1st earnings as a public company

Snap misses by $0.26 (:GAAP), misses on revs :

• The company reported a net loss of $2.2 billion for the quarter, due in large part to $2 billion in compensation costs tied to going public. Even without that one-time cost, however, Snap's loss doubled from the same quarter a year earlier.
• Reports Q1 (Mar) GAAP loss of $2.31 per share, $0.26 worse than the GAAP Capital IQ Consensus of ($2.05); revenues rose 285.6% year/year to $149.6 mln vs the $158.32 mln Capital IQ Consensus. 
• Daily active users (:DAU) -- DAUs grew from 122 million in Q1 2016 to 166 million in Q1 2017 (in-line/slightly below 167 mln estimate), an increase of 36% year-over-year. DAUs increased 5% quarter-over-quarter, from 158 million in Q4 2016.
• Average revenue per user (:ARPU) -- ARPU was $0.90 in Q1 2017, an increase of 181% over Q1 2016 when ARPU was $0.32. ARPU decreased 14% over Q4 2016 when ARPU was $1.05.
• Hosting costs per DAU -- Hosting costs per DAU were $0.60 in Q1 2017, as compared to $0.52 in Q1 2016 and $0.72 in Q4 2016.

JPMorgan had expected Snap's DAUs to hit 169 million in the first quarter, while Monness, Crespi, Hardt & Co Inc pegged them even higher at 173 million.

Snap's March IPO priced above the company's target range as investors put aside concerns about a lack of profits and voting rights to get a piece of the action. The IPO raised $3.4 billion and gave the company a market valuation of roughly $24 billion, and shares surged 44 percent in their first day of trading.

Facebook, which made a $3 billion bid for Snapchat in 2013, has upped the ante by offering camera-related features similar to Snap on its platforms, including Instagram and WhatsApp. The company said in April that Instagram Stories alone had reached 200 million daily active users.

Snap Chief Executive Evan Spiegel, who received a stock-based bonus worth nearly $600 million for taking the company public, shrugged off imitations when asked about Facebook by an analyst on a conference call to discuss earnings.