Snapchat's Stock Surges After Beating Earnings Estimates, DAUs Up To 203M

Snap Inc SNAP shares are surging after reporting a second-quarter earnings beat.

Adjusted earnings came in at $(0.06), beating estimates by 4 cents. Sales came in at $388.02 million, $28.46 million.

The company also issued strong third-quarter sales guidance of $410 million-$435 million versus a $402 million estimate.

"The growth in our community, engagement, and revenue is the result of several transitions we completed over the past 18 months," said CEO Evan Spiegel. "We look forward to building on our momentum and making significant ongoing progress in each of these areas."

Highlights

• Daily Active Users were at 203 million, up from 190 million year-over-year
• Average number of snaps created every day grew to over 3.5 billion
• Adjusted EBITDA increased 53% year-over-year

Snap shares traded higher by 10.5% to $16.39 in the after-hours session. The stock closed at $14.83.

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