Snap reports awful first-ever earnings ... and the tweets are hilarious

Snapchat

Social media network Snap, which went public in March in a frenzied $33 billion IPO, reported its first ever earnings on Wednesday.

It missed analysts' projections wildly on revenue and the number of users it added to its network.

And there were other bits of bad news in there as well, such as the rise in its costs.

Although the company warned investors in its prospectus that it "may never" be profitable, its first-ever earnings sent the stock tumbling anyway, over 20% as we write this.

Naturally the internet via Twitter had plenty of things to say about it, and quite a few jokes.

Get the latest Snap stock price here.

$SNAP next quarter we will have new and fresh filters bwahahahaha

- JS (@smiths117) May 10, 2017

$SNAP pic.twitter.com/tAPJlghLTT

- Samir Basaria (@samirbasaria11) May 10, 2017

*Opens up app to see $SNAP down 18% post earnings*
*Immediately logs on to $TWTR for the memes*

- MBM (@MBMeiss) May 10, 2017

oh $SNAP!

(did anyone else make that joke yet) pic.twitter.com/KKXNhiDpwE

- Steph Haberman (@StephLauren) May 10, 2017

$SNAP pic.twitter.com/w2p6sbpUpF

- ace of trades (@tendersplendor) May 10, 2017

Can we get $SNAP a dog filter to cover up their $2.2B Q1 loss? Asking for a friend (not @KylieJenner).

- Muzthetruthspkr (@Muzthetruthspkr) May 10, 2017

can we take a break from trump and make fun of @evanspiegel for a few days?$SNAP to lose $2 billion dollars this year

- Mike G (@yalotrader) May 10, 2017

AXE Capital short $SNAP

- Matt Cave💱 (@MatthewCave) May 10, 2017

@AdamSinger Oh $SNAP ;-O pic.twitter.com/f7sYU5OZ2g

- Charles Erick (@ewmpsi) May 10, 2017

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