Snap's Shares Plunge After Rough Earnings Report

WATCH: Snapchat to make more changes to the app

WATCH: Snapchat to make more changes to the app

Snap's shares took a near 16 per cent dip in after hours trading when the messaging app revealed it had only seen a 15 per cent increase in users from past year despite a redesign overhaul.

The company has been struggling to recover from its controversial Snapchat redesign, which has pushed away some of its core users.

Tornado watch issued for central Kansas until 10 pm
The precise magnitude and location of the most-severe weather remains questionable due to the evolution of storms overnight. North Dakota recognizes this week as Severe Summer Weather Awareness Week - a reminder that severe weather is not far away.

Failing to capitalize on Facebook's recent missteps, Snap's first-quarter earnings and usership missed analyst expectations.

For the quarter that ended in March, total revenue rose 54.1 percent from the same period a year earlier to $230.7 million in what was Snap's fifth quarterly earnings as a public company. That's up 53% from the same period a year ago.

Kansas City Royals vs
The White Sox have lost 3.9 units and are 3-3 ATS when facing a left-handed starting pitcher this year. I'm going to stick with Lopez to have a strong start here and help the White Sox bag a win in game two.

According to Snap, Users can look forward to new Snappables every week. Celebrities like Kylie Jenner have publicly tweeted about disliking the redesign, causing Snap's stock to plummet 6.1% in a single day. It also posted a net loss of $385.8 million.

Time spent on Snapchat remained more than 30 minutes per day on average following the redesign, while Spiegel insists the company has started to realize some of the positive benefits of the change, including increased new user retention among older users.

Palestinian child dies of serious wounds sustained during protests in Gaza
The government has said previously that it is doing what is necessary to stop the border fence being breached. Israel and the United States share a common enemy in the political leadership of Gaza: Hamas.

"We are already seeing signs of stabilization among users, but still have work to optimize design among Android users", Spiegel told reporters and investors. A Change.org petition asking the company to remove the redesign now has more than 1.2 million signatures.

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