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Snap's sales decline in the first quarter of 2018, from $ 286 million in the fourth quarter of 2017 to $ 231 million in the last quarter

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Snap Inc. released its quarterly results for the first quarter of 2018, with a total business figure of $ 230.7 million for the first quarter of the year.

Over twelve months, Snap's total business figure jumped 54 percent – but revenues declined from the previous quarter, when it reached $ 286 million in the fourth quarter of 2017.

CEO Evan Spiegel attributes the revenue loss to the company's decision to roll out a major overhaul of the application this quarter – by separating the user's content from the creator's content.

"As we have mentioned in our last two income appeals, a change in this important behavior with respect to existing behavior accompanies a certain disruption, especially because of the frequency of the daily commitment of our community ".

The CEO says the company is starting to see early signs of stabilization for its iOS users since the redesign, but the platform still has work to do for Android users.

[Read the full article on MarTech Today.]

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About the author

Amy Gesenhues is the general reporter for Third Door Media, covering the latest news and updates for land and search engine marketing. From 2009 to 2012, she was an award-winning columnist for a number of dailies in New York, Texas. With over ten years of experience in marketing management, she has contributed to a variety of traditional and online publications, including MarketingProfs.com, SoftwareCEO.com, and Sales and Marketing Management Magazine. Read more articles from Amy.

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