FIRST AIRED: November 8, 2017

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Transcript

00:00:00
>> This little white ghost is really scaring investors. Snap, parent company of messaging app Snapchat reporting anemic user growth, Tuesday. Sending the company shares plummeting more than 18% in after hours trading. Snapchat's daily active users while up 17% year over year dropped from the prior quarter far missing analysts' expectations.
00:00:25
Jennifer Saba covers media for Reuter's Breaking News.>> In hindsight, Snap went public too early. Clearly, their user growth is slowing. Their revenue is still growing, but it's a problem. Because advertisers aren't flocking to the platform as much as people had hoped and even worse is that their profit losses are widening.
00:00:48
I mean, it was almost 500 million in losses this quarter which is huge.>> CEO Evan Spiegel, who this year married model Miranda Kerr, finding that rival Instagram is doing far too good of a job modeling itself after Snapchat. Replicating features, such as filters, images and ephemeral videos and snagging $500 million total daily active users as of September more than triple that of Snapchat's.
00:01:17
Tuesday's earnings report, the third for Snap since it went public in March, its stock trading below the $17 IPO price since mid-July.