Changes in US stocks | Snap (SNAP.US) surged more than 13%, Q2 results exceeded expectations

The Zhitong Finance App learned that on Tuesday, Snap (SNAP.US) surged more than 13% to $5.72. According to the news, Snap released its financial results for the second quarter ending June 30 after trading on Monday EST. According to the data, the company's net loss narrowed sharply from US$262.6 million in the same period last year to US$164 million. Adjusted profit of US$250 million was significantly better than market expectations of US$192 million.

During the period, Snap achieved revenue of 1.6 billion US dollars, a significant increase of 19% over the previous year, which was significantly higher than the average estimate of 1.54 billion US dollars from Wall Street analysts. Among them, advertising revenue, which accounts for the majority of total revenue, increased 9% year over year to reach 1.28 billion US dollars. The “other revenue” category, which includes Snapchat+ subscription services, grew 85% year over year in the second quarter to reach US$316 million.

In terms of user data, Snap's global daily active users (DAU) reached 493 million in the quarter, up about 5% year over year. The growth rate was the same as the previous two quarters, and exceeded market expectations of 488 million.

Looking ahead, Snap gave a very optimistic forecast: third-quarter revenue is expected to be between US$1.7 billion and US$1.74 billion, higher than analysts' expectations of US$1.7 billion; adjusted profit is expected to be US$300 million to US$350 million, with a median value of US$325 million, which is slightly lower than market expectations of US$327 million.