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Snap Surges as Loss Narrows, Users Jump

Published 2019-07-23, 04:39 p/m
Updated 2019-07-23, 04:39 p/m
© Reuters.

Investing.com - Shares of social media company Snap (NYSE:SNAP) jumped in after-hours trading on a strong earnings report where it topped expectations across the board.

The maker of Snapchat reported a second-quarter loss of 6 cents per share, much narrower than the loss of 22 cents per share forecast by analysts polled by Investing.com.

Revenue came in at $388 million, better than the $360 million expected.

Daily active users, a key measurement for engagement, were 203 million, better than the 192 million Wall Street was looking for.

The stock rose more than 11% in after-hours trading, adding to gains of nearly 5% in regular trading.

Looking ahead, Snap said it expect third-quarter revenue of $410 million to $435 million and an adjusted loss of $85 million to $60 million, both ahead of estimates from S&P Capital IQ.

Latest comments

If you want to know how well the users engamnet has improved and the number of users, download the app and ask your younger niece or nephew and it is evident that FB is thing of the past. Younger crowd prefer SnapChat period. Glad I went long again on Snapchat
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