Snap reported second-quarter revenue of $1.6 billion on Monday, a 19% increase from a year earlier, as improving advertising momentum drove results ahead of analyst expectations.
Snap stock jumped about 8% in extended trading
Revenue of $1.6 billion topped analyst expectations of $1.54 billion, according to CNBC. Adjusted EBITDA came in at $250 million, ahead of the $192 million estimate, according to CNBC. Snap’s net loss shrank to $164 million, compared with $263 million during the same quarter last year.
Global daily active users reached 493 million, up 5% year over year, topping analyst expectations of 487 million. Average revenue per user rose to $3.25, compared with an estimate of $3.16. Monthly active users reached 971 million.