Snap Ince Company. , Which is the owner of Snapchat instant messaging service, published the first financial report since its launch on the exchange in early March 2017.

In the first quarter, Snap suffered a loss of $ 104.6 million, more than 20 times the cash loss of a year ago. This negative dynamics in the company was explained by the costs associated with the IPO.

The revenue of Snap increased by 286% year on year, reaching 149.6 million dollars. Analysts, referred to by The Wall Street Journal, expected revenues of $ 158 million.

The audience of Snapchat has grown by more than a third, now the service is used by 166 million people every day. The average income from one user (ARPU) was $ 0.9, which is 181% more than a year ago.

Service Snapchat, which began work in 2011, allows you to exchange messages, photos and videos. The special feature of the project was the confidentiality declared by the developers: photo and video messages after viewing are deleted not only from users' devices, but also from company servers.