Snap Inc. (NYSE:SNAP) posted its second-quarter results after Monday’s closing bell, beating analyst estimates on the top and bottom lines. Here’s a look at the key figures from the quarter.
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Snap Q2 Details
Snap reported quarterly losses of 10 cents per share, which beat the Street estimate for losses of 12 cents, according to Benzinga Pro data.
Quarterly revenue came in at $1.6 billion, which beat the analyst consensus estimate of $1.54 billion and was up from $1.35 billion in the same period last year.
Global Daily Active Users (DAUs) grew by 23 million or 5%, and global Average Revenue Per User (ARPU) was $13.19 over the trailing twelve months.
“Q2 reflects the progress we are making to strengthen our core business and build a more durable financial foundation for Snap,” said Evan Spiegel, co-founder and CEO.
“We grew revenue by 19%, expanded margins, and generated positive free cash flow while improving advertising performance and rapidly growing our direct revenue business. We remain focused on serving our 971 million monthly active users, delivering measurable value for advertisers, and investing with discipline to increase free cash flow per share over time,” Spiegel added.
SNAP Stock Price Activity: According to data from Benzinga Pro, Snap stock was up 11.90% to $5.64 in Monday’s extended trading.
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