Snap Missed Earnings Expectations, but Evan Spiegel Is Planning a Big Redesign

The company reports revenue of $208 million

Snap may be building out a slick advertising business in hopes of competing against juggernauts like Facebook, Google and Amazon, but the media and messaging app continues to fall below Wall Street’s expectations. So, it’s building new versions of the app for Android and is planning a major redesign.

The newly public company announced its third-quarter earnings Tuesday, reporting that it made $208 million, which is down from analysts’ expectations of $237 million. However, the third-quarter revenue is a 16 percent increase from

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in