Snapchat users created on average more than 3 billion snaps, or pieces of short content, every day, up from 2.5 billion the previous quarter.
After the Snapchat earnings report was out, the company saw a decline in its shares by nearly 24-25 percent.
Snapchat's parent company Snap Inc has reported a net loss of more than 2.2 billion dollars (£1.7 billion) in the company's first ever earnings report. Analysts were only anticipating a loss per share of $0.19.
Snap's stock $5.50, or 24 percent, to $17.48 in after-hours trading. Although Snap's revenue almost quadrupled to almost $150 million in the latest quarter, it's less than the $158 million that analysts polled by FactSet were expecting. But in the rest of the world, Snap only added a million daily users, reaching 40 million daily active users.
Another factor which could be driving users away from Snapchat, is the fact that Facebook and Instagram have copied numerous features from Snapchat over the past 12 months.
Spiegel had a biting response to Facebook's copycat tactics: "Just because Yahoo has a search box doesn't make it Google". Snap's user growth, it states, will be key to watch going forward.
Average revenue per user (ARPU) was 90 cents in the first quarter, up from 33 cents the same quarter a year earlier, but below the $1.05 per user in the fourth quarter of 2016. Facebook, for example, has been snapping up features present in Snapchat and incorporating them into its own products. Also, the company saw a growth in Snapchat users at 166 million for Q1.
Alonso's McLaren gushes liquid in breakdown during practice
Two-time champion Fernando Alonso said he will be open to offers from rival teams if McLaren continues to struggle next season. He endured the embarrassment of having to abandon the Russian GP last round when his vehicle broke down on the formation lap.
With its first earnings results, Snapchat risks suffering the same fate as its social media rivals. Bank of New York Mellon Corp purchased a new position in Snap during the first quarter valued at about $525,000.
Snap says it isn't planning Facebook's kind of global dominance but wants to target developed markets with fast mobile broadband.
The new features enable users to loop videos for repeated play or to re-view an incoming Snap for as long as they like without the normal automatic deletion kicking in after one viewing.
US Bancorp DE purchased a new position in Snap during the first quarter valued at about $101,000.
"I think we were a little bit late to the trend initially around making cameras the center of how sharing works", Facebook CEO Mark Zuckerberg said on an earnings call this month, without naming Snapchat.
As Spiegel and his Snap colleagues look to rebound, Wall Street analysts are split on whether they'll be able to pull it off.