GoKawiilSnap reported better-than-expected revenue and earnings for the second quarter and issued a forecast for the current period that topped analysts' estimates. The stock jumped over 10% in extended trading.
Here's how the company did compared with analysts' expectations:
Loss per share : Loss of 10 cents. That figure is not comparable to analysts' estimates.
: Loss of 10 cents. That figure is not comparable to analysts' estimates. Revenue : $1.6 billion vs. $1.54 billion expected, according to LSEG
: $1.6 billion vs. $1.54 billion expected, according to LSEG Global daily active users : 493 million vs. 487 million expected, according to StreetAccount
: 493 million vs. 487 million expected, according to StreetAccount Global average revenue per user, or ARPU: $3.25 vs. $3.16 expected, according to StreetAccount
Revenue in the second quarter rose 19% from $1.34 billion a year earlier, Snap said in a statement. The company's net loss narrowed to $164 million from $262.6 million, or 16 cents per share, a year ago.
Adjusted earnings came in at $250 million, ahead of the $192 million estimate, according to StreetAccount.
Snap said third-quarter sales should come in between $1.7 billion to $1.74 billion, topping analyst estimates of $1.7 billion. Adjusted earnings will be in the range between $300 million and $350 million. That range's midpoint of $325 million trails StreetAccount's projections of $327 million.
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