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Snap's first-ever earnings were a big miss — and the tweets are hilarious

Julie Bort

The social network Snap, which went public in March in a frenzied $33 billion initial public offering, on Wednesday reported earnings for the first time.

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

Other bits of bad news were in there as well, such as a rise in 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 of Wednesday evening.

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

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