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

It was the company's slowest rate of user growth.

Snap's hotly contested redesign had a material negative impact on revenue, the company said in its Q1 earnings report.

The stock got clobbered in after-hours trading, falling as much as 17%.

Snap's revenue left something to be desired as the social media app maker reported sales of $230.7 million, below the $244.5 million that the Wall Street consensus estimate called for, according to data compiled by Thomson Reuters.

User growth at the company's disappearing-message app have repeatedly fallen short of Wall Street's expectations since its heavily hyped IPO in March a year ago.

Oculus Go is shipping today
Additional global retailers will have the Oculus Go , which doesn't require a PC or inserted smartphone to operate, on sale soon. That architecture has helped Facebook and Oculus keep the price down, of course, but it has also forced some compromises.

"We are now focused on optimizing the redesign based on our ongoing experimentation", CEO Evan Spiegel said in a statement.

The company's new look, which separated content from friends and channels, upset both users and publishers and even prompted celebrities such as Kylie Jenner to publicly cut ties with the platform. It also posted a net loss of $385.8 million.

But it ended up setting off an outcry among users.

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. And after months of standing by the changes, the company last month was forced to backtrack, promising to redesign the redesign.

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