Snap, parent company of social media site Snapchat, will have its first earning report released Wednesday to reveal the impact rival social media site Facebook has had on its growth.
While its $3.9 billion initial stock sale in early March was the largest U.S. IPO in more than two years, the company has consistently reported huge losses.
Just as important: They’ll see whether Facebook’s habit of adopting knock-off features has dented Snapchat’s user growth.
The report will reveal whether Facebook’s push is impacting Snap’s growth in users or ad sales — though company said in its IPO filing that it expected first-quarter sales to decline from the end of last year.
That has led analysts to expect revenue of $158 million, compared with $165 million in the fourth quarter of 2016,.
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