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Rebecca Zisser / Axios

Snap's hotly awaiting first quarterly results are in, and the company missed Wall Street analyst expectations for both revenue and earnings. Shares are down more than 20% in after-hours trading, while rival Facebook has seen a small stock bump.

The parent company of the ephemeral messaging app generated $149.6 million in Q1 2017 revenue, which is lower than the $156 million analysts expected. It lost a whopping $2.2 billion, although it says that most of that is due to paying out stock-based employee compensation.

Other numbers:

  • Daily active users: 166 million, up 36% from a year ago, and 5% from last quarter. This is key, since Snap's entire value story is about user growth.
  • Average revenue per user: $0.90, up 181% from a year ago, and 14% from the previous quarter. Note that Snap only really started to monetize in 2015, so the significant increase over the last year is no surprise.
  • Hosting costs per DAU: $0.60, slightly up from a year ago ($0.52), but lower from last quarter ($0.72), suggesting Snap is doing fairly well at controlling its hosting costs.

Go deeper

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong to put tens of thousands on lockdown as cases surge.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

Trump impeachment trial to start week of Feb. 8, Schumer says

Senate Majority Leader Chuck Schumer. Photo: The Washington Post via Getty

The Senate will begin former President Trump's impeachment trial the week of Feb. 8, Majority Leader Chuck Schumer announced Friday on the Senate floor.

The state of play: Schumer announced the schedule after reaching an agreement with Republicans. The House will transmit the article of impeachment against the former president late Monday.

4 hours ago - Health

CDC extends interval between COVID vaccine doses for exceptional cases

Photo: Joseph Prezioso/AFP via Getty

Patients can space out the two doses of the coronavirus vaccine by up to six weeks if it’s "not feasible" to follow the shorter recommended window, according to updated guidance from the Centers for Disease and Control and Prevention.

Driving the news: With the prospect of vaccine shortages and a low likelihood that supply will expand before April, the latest changes could provide a path to vaccinate more Americans — a top priority for President Biden.