Snap Inc. reported second-quarter financial results that exceeded Wall Street expectations, signaling a potential turnaround.
Revenue reached $1.6 billion, representing a 19% year-over-year increase. This figure surpassed the consensus estimate of $1.54 billion.
The company reported a loss of $0.10 per share, outperforming the anticipated $0.12 loss.
Snap’s monthly active user base grew to 971 million.
For the third quarter, Snap projects revenue between $1.70 billion and $1.74 billion. The midpoint of this guidance exceeds the analyst consensus of $1.7 billion.