Snap Stock Surges 8% on Q2 Revenue Beat
On Monday, Snap Inc. announced its revenue for the second quarter at $1.6 billion, marking a 19% rise compared to the previous year, fueled by a boost in advertising activity. This performance surpassed what analysts had anticipated, resulting in an approximate 8% increase in the company's stock during after-hours trading. The results highlight a recovery in digital advertising, which is a crucial source of income for the social media platform.
Key facts
- Snap reported Q2 revenue of $1.6 billion
- Revenue increased 19% year-over-year
- Improving advertising sales drove results
- Earnings beat analyst expectations
- Stock jumped about 8% in extended trading
- Report released on Monday
Entities
Institutions
- Snap Inc.
Sources
- Quartz —