Snap’s share price rose more than 15% on Thursday after the company reported its second-quarter earnings, surpassing overall expectations of revenue, revenue and user growth.
Here’s what Snap reported and a Wall Street quote:
- Adjusted earnings per share: Refinitiv’s 10-cent to 1-cent loss forecast
- Revenue: $ 892 Million vs. Refinitiv Forecast of $ 846 Million
- Global Daily Active User (DAU): 293 million vs. 290.3 million per StreetAccount
- Average Revenue Per User (ARPU): $ 3.35 vs $ 2.92 per Street Accountt
As expected, Snap said the company wasn’t affected by Apple’s iOS 14.5 privacy changes. This is because mobile operating system updates are deployed later than expected, iOS users take longer to update their devices, and Snap observes “higher opt-in rates than commonly reported throughout the industry.” That’s why Snap’s CEO, Jeremi Gorman, said in a prepared statement.
“This gives advertisers more time to navigate the transition, but it also means that these changes will have a slower impact than originally expected,” Gorman said.
Snap’s net loss was $ 152 million, down 53% from the $ 326 million loss a year ago.
Snap reported 293 million active users per day. This is an increase of nearly 5% from the 280 million people the company reported in April. That’s more than 23% higher than the company’s 238 million daily users reported a year ago.
Snap expects third-quarter sales to grow 58% to 60% year-on-year, the company said. This is down compared to the 116% annual revenue growth seen in the second quarter. Snap expects to reach approximately 301 million DAUs in the third quarter in a prepared statement.
“This range reflects current best estimates of the potential impact of disruption associated with changes in the iOS platform,” said Derek Andersen, Chief Financial Officer of Snap. It is stated in.
According to the company, the resurgence of Covid-19 cases represents an uncertain operational environment for the third quarter.
This is breaking news. Check for updates.
Snap (SNAP) Revenue Second Quarter 2021
Source link Snap (SNAP) Revenue Second Quarter 2021