Snap Inc. Snap (SNAP) reported first-quarter results after Wednesday's closing bell, beating estimates on the top and bottom lines. But the market didn't seem impressed — shares dropped 4.26% to $5.85 in extended trading.

Snap Q1 Details

Snap reported a quarterly loss of five cents per share, better than the consensus estimate for a loss of seven cents, according to market data. Revenue came in at $1.529 billion, just 0.07% above the Street estimate of $1.528 billion.

Other highlights from the quarter:

• Global monthly active users (MAU) grew to 956 million, up 43 million or 5% year-over-year. Daily active users (DAU) also rose 5% to 483 million.
• Sponsored Snaps per-impression click-through rates jumped 226%, and seven-day conversion volume increased 59%.
• Dynamic Product Ads revenue grew more than 30% year-over-year, with adoption among small and medium-sized customers more than doubling.
• Other Revenue surged 87% year-over-year to $285 million.

“In Q1, we returned to growth in daily active users, accelerated revenue growth, expanded margins and generated strong free cash flow,” said CEO Evan Spiegel. “We remain focused on disciplined execution as we invest in Specs and our long-term opportunity in intelligent eyewear and look forward to sharing more at AWE on June 16th.”

Snap's stock has had a volatile year, and this after-hours dip suggests investors might have wanted more — or are just taking profits after a run. Either way, the company's core metrics are moving in the right direction.