On August 4, Snap Inc rose 8.93% in regular trading, trading at $5.685/share, with turnover of $123 million. The rally was driven by the company's Q2 earnings report released the prior session's after-hours, which delivered a comprehensive beat over market expectations.
Snap reported Q2 revenue of $1.6 billion, up 19% year-over-year, significantly exceeding the consensus estimate of $1.541 billion. Adjusted EBITDA reached $249.6 million, far surpassing analysts' forecast of $188.8 million. Daily active users grew approximately 5% to 493 million. The outperformance was largely attributed to increased advertising spending during the FIFA World Cup, stronger momentum with large North American advertisers, and broader adoption of AI-powered Smart Campaign Solutions that improve bidding, budget management, and audience targeting.
Looking ahead, Snap guided Q3 revenue to $1.7-1.74 billion, above the $1.7 billion consensus. The company also announced plans to host a September 16 event in Los Angeles to detail its consumer AR glasses Spectacles, while the CFO indicated a new multi-year share repurchase program will launch after the current plan concludes in Q4.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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