CEO of Snap Inc. Evan Spiegel walks to a morning session at the Allen & Company Sun Valley Conference on July 07, 2021 in Sun Valley, Idaho.
Kevin Dietsch | Getty Images
Snap’s stock rose more than 13% on Thursday after the company reported its second-quarter earnings, beating expectations across the board for earnings, revenue and user growth.
Here’s what Snap reported versus Wall Street’s estimates:
- Adjusted earnings per share: 10 cents vs. 1 cent loss forecast by Refinitiv
- Revenue: $982 million vs. $846 million forecast by Refinitiv
- Global daily active users (DAUs): 293 million vs. 290.3 million per StreetAccount
- Average revenue per user (ARPU): $3.35 vs. $2.92 per StreetAccountt
Snap’s net loss narrowed 53% to $152 million, from a loss of $326 million a year ago.
Snap reported 293 million daily active users, up nearly 5% from the 280 million the company reported in April. That figure is up more than 23% compared with the 238 million daily users the company reported a year prior.
Snap expects year-over-year revenue growth of 58% to 60% for the third quarter, the company said. That is down compared to the 116% annualized revenue growth it saw in Q2. Snap expects to reach approximately 301 million DAUs in the third quarter, the company said in its prepared remarks.
The company said the resurgence of Covid-19 cases presents an uncertain operating environment heading into Q3.
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