Snap just reported second-quarter earnings

Explode reported Second quarter gain On Tuesday, he missed global average income expectations per user, where sales are basically compatible with analysts’ predictions.

The company was compared with Wall Street’s expectations:

• Earning per share: 16 cents is lost. This figure cannot be compared with the estimates of analysts.
• Revenues: 1.34 billion dollars and 1.35 billion dollars are expected according to LSEG
• Global Daily Active Users: According to Streetaccount, 467 million is expected against 469 million
• Global average income per user: According to Streetaccount, $ 2.87 and $ 2.90 are expected

Snap said that the second quarter sales have grown by 9% annually and recorded a net loss of 262.6 million dollars. The company’s net loss in the same quarter of last year was $ 248.6 million.

For the second quarter, interest rates, taxes, depreciation and depreciation or FAVÖK were corrected before 41 million dollars and followed $ 53 million predicted by StreetCount.

SNAP said the third quarter income would be between $ 1,475 billion and $ 1.505 billion in front of $ 1,475 billion in front of Wall Street forecasts.

The company said FAVÖK, which was corrected for the third quarter, would be between $ 110 million and $ 135 million. The midpoint of $ 122.5 million in this figure is higher than Streetaccount’s projections of $ 116 million.

Snap said that the third quarter global Daily Active users will use a total of 476 million streetcounts expected by 475.7 million Streetcount.

The company’s Snapchat+ subscription service approaches 16 million in the second quarter and represents an increase of 42% from year to year, and Snap CEO Evan Spiegel wrote in an investor letter. Spiegel said Snap’s subscription service was the company’s other income category “largest driver” and increased by 64% annually in the second quarter to 171 million dollars.

Spiegel said SNAP’s corrected operating costs for the second quarter increased by 10% annually to $ 654 million.

In an investor letter, Spiegel said in a letter to “distribute” to “directly support” business functions, which led to the report of the basic practices team to report to the technology chief Bobby Murphy. Moneying Engineering Team will report to Business Chief Ajit Mohan.

“Our Chief Information Officer and the Chief Information Security Officer will report me and lead the basic infrastructure and platform integrity.” He said. “This new, distributed structure will encourage more ownership to our teams and to make continuous innovation for our community and advertising partners.”

Eric Young, SNAP’s social media company in 2023, Engineering Senior Vice President GoogleIn the letter, Spiegel leaves the company “pursuing a new opportunity”.

Last Thursday, Amazon The second quarter earnings, where online advertising sales increase by 23% annually, rose to 15.69 billion dollars. Reddit The second quarter income increased by 78% annually to $ 500 million.

Alphabet, on July 23, the second quarter earnings in the upper and bottom lines reported. Meta He said that on July 30, the second quarter sales grew by 22% annually to $ 47.52 billion.

Pinterest will notify financial financials on Thursday.

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