Snap Q2 Loss Narrows to $164M as Revenue Jumps 19% to $1.6B
SNAP sits 42% above its 52-week low of $3.81 on elevated volume (2.1× avg).
Summary
Snap's Q2 revenue hit $1.6B, up 19% YoY, while net loss shrank to $164M from $263M. The company also disclosed 971M monthly active users, a new metric not in the earlier DAU-only report. CEO Spiegel highlighted margin expansion, positive free cash flow, and rapid direct revenue growth. This follows strong Q1 results and a credit rating upgrade in June, reinforcing the turnaround narrative. The full financials give traders concrete numbers to reassess valuation after the initial DAU-driven pop.
At the time of this announcement, SNAP was trading at $5.41 on NYSE in the Technology sector, with a market capitalization of approximately $8.4B. The 52-week trading range was $3.81 to $9.55. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.