*By Conor White*
Snap's mixed bag on earnings points to a murky future for the Snapchat app, which may hold more promise as a messaging platform than the ad-supported content powerhouse many people expected it to be, said BTIG's media and tech analyst, Rich Greenfield.
"I think the challenge is more and more time spent feels like it's shifting to communications and away from content," Greenfield said Wednesday in an interview with Cheddar. "So their core use case is very sticky for the entire generation that uses it as their iMessage, essentially."
Optimistic investors may be heartened by Snap's revenue beat in the second quarter, but Greenfield said numbers from the company's earnings report on Tuesday are nothing to celebrate.
"I've never cut my target for a company in terms of revenues by 50 percent over a 14-month period," Greenfield said. "We thought when this company went public they would do $2.5 billion in revenue this year, they're struggling to get to the $1.1, $1.2 \[billion\] revenue this year. "
The analyst said it isn't enough to have millions of people using Snapchat as a messaging platform, since "filters don't make billions of dollars," he said.
Content is still key to Snap's future as a business, Greenfield said.
"They've got to convince people, to make this a multi-billion dollar business, they need people to spend a lot of time on the right side of the app, consuming content."
For more on this story, [click here](https://cheddar.com/videos/snap-loses-daily-active-users-for-first-time-ever).
A fire at a New York City e-bike shop quickly spread to upper-floor apartments and killed four people early Tuesday in the latest deadly blaze linked to exploding lithium ion batteries.
Electric aircraft maker Eve and Blade plan to integrate Eve's upcoming flying car into Blade's European route network under a partnership expansion.
Twitter is planning to pivot to video content, according to Reuters. Cheddar News explains how the tech giant looks to double down on video, creative and e-commerce strategies.
Twitter has a new plan for success, and it involves an old strategy. According to a recent report from Reuters, the platform plans to pivot to video, and Cheddar News Senior Reporter Michelle Castillo is here to talk about what video means for twitter’s future.
A hovercraft traveling from Cape Cod to Nova Scotia became a beachside attraction when it was deliberately run aground after suffering a 3-foot tear in its skirt.
Artificial intelligence is revolutionizing how people work, including in creative industries. The famous Tribeca Film Festival featured some projects recently that used A.I. that some filmmakers say make it more creative. Cheddar News took a peek at some of those films.
The Department of Energy and several other federal agencies were compromised in a Russian cyber-extortion gang's global hack of a file-transfer program popular with corporations and governments, but the impact was not expected to be great, Homeland Security officials said Thursday.
Rivian is expanding into New York City and launching its first showroom there. Cheddar News took a look at the showroom in NYC that the company is calling "spaces," which is intended to be experiential retail locations to woo new customers.
Amazon is using A.I. to sum up product reviews on its site.
How AI Could Change the Future of Work
