Leading up to Snap's (SNAP) - Get Report first-ever earnings call with investors, it was unclear whether the social media upstart's 26-year-old wunderkind CEO Evan Spiegel would be present. Spiegel did end up joining the call, along with CFO Drew Vollero and chief strategist Imran Khan, where they answered analysts' questions about everything from the company's competition with Facebook (FB) - Get Reportto seasonality affecting ad spending for more than an hour.

The Wednesday evening call came after Snap reported less-than-stellar results after Wednesday's closing bell. Shares of Snap closed down 21.4% to $18.05 on Thursday, after falling more than 23% after-hours on Wednesday. The stock is down 26.2% so far this year.

Aside from Snap's pre-IPO road show, the call marked one of Spiegel's longest interactions with Wall Street analysts. Being that he's not quite a seasoned CEO, it makes sense that Spiegel would mostly lead the discussion on Snap's vision, user engagement and product initiatives. During the call's introduction, Spiegel only spoke for a few minutes -- fewer than any of the other executives -- and focused mostly on short-term strategies, said Eric Kim, managing partner at venture capitalist firm Goodwater Capital. Wells Fargo analyst Peter Stabler echoed that notion, saying that Spiegel's prepared remarks were "notably brief," providing little information on Snap's corporate mission, core beliefs or "over-the-horizon" vision for the company.

Once the Q&A session began, however, Kim noted that Spiegel seemed to loosen up.

"He was on the call and answered every question. That's really all you can ask for in terms of a public CEO's first quarterly earnings," Kim added. "That said, there were a couple of things we were hoping for that we didn't quite see. I think articulating, given how strong Facebook's aggressive tactics have been to topping Snapchat, what are the countermeasures going to be from Snapchat to protect its core product Stories."

"That's something that still remains a question coming out of that call," Kim said.

When asked about the threat of Facebook, Spiegel said the company hopes that users will be convinced to stay on Snapchat vs. Instagram, Facebook or any other platform, due to the app's focus on creativity and exclusivity. It's likely that Spiegel was referring to Facebook when he said that Snap doesn't believe in "growth hacking," which involves sending push notifications to users, or in encouraging users to do things that seem "unnatural."

"I think that's the easy way to grow DAUs quickly," Spiegel explained. "We don't think that those sorts of techniques are very sustainable over the long-term."

At some points, Spiegel's tone and voice actually ended up resembling Facebook CEO Mark Zuckerberg's performance on his company's first earnings call. Facebook's inaugural call with investors was in July 2012 and like Spiegel, Zuckerberg mostly confined his comments to discussion about the social media giant's product and vision. During that time, Facebook was struggling to shift from a desktop-heavy application to mobile devices.

Zuckerberg spoke at length during the call about how Facebook was working to "increase the depth of the experience" along with growing its users. Also like Spiegel, who deflected questions about any new products on the way, Zuckerberg in his first earnings call shot down rumors that the company was building a "Facebook Phone." There was a time when the tech community was abuzz with rumors that Facebook was building a secret smartphone as a means of fending off competition from Alphabet (GOOGL) - Get Report and Apple (AAPL) - Get Report .

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"We want to support a development ecosystem where other apps can build on top of Facebook," Zuckerberg said at the time. "There are lots of things you can build...that aren't really like building out a whole phone, which I think wouldn't really make much sense for us to do."

Whether they like it or not, there are some noticeable similarities between Spiegel and Zuckerberg. They're both young visionaries who are "product geniuses," Kim noted. Additionally, at the time of their first earnings calls, no one expected them to be seasoned CEOs, he added. At the time of his first earnings call, Zuckerberg was only 27 years old.

Earnings calls can also be an educational moment for CEOs, as they hear from investors firsthand about what they consider to be most important. For example, investors seemed to signal on Snap's earnings call that they want answers on how the company plans to address its stagnant user growth overseas.

"I think that coming out of this call, there will still be a lot of people who are core investors," Kim explained. "But my guess is that they've also learned a good amount just like Facebook and Twitter (TWTR) - Get Report did when they were just starting out."

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Editors' pick: Originally published May 11.