Understanding Snap's Q2 results in under 60 seconds
We examine the key things you need to know about Snap’s second quarter results in under a minute.
Social media and camera company Snap Inc (All Sessions) (NYSE: SNAP) saw its share price fall sharply in after-hours trade following the release of its second quarter (Q2) earnings on Tuesday.
Understanding Snap’s Q2 results in under 60 seconds
Looking at the highlights from these results, on a year-over-year basis, Snap reported:
- Revenue of US$454 million, up 17%; against adjusted earnings (EBITDA) of negative US$96 million, down 21%
- 238 million daily active users (DAUs), up 17%. Analysts were expecting 239 million DAUs, according to Bloomberg.
- That users opened the Snapchat app on average 30 times a day
- Free cash flow of negative US$82 million, an improvement of 20%
The average analyst rating on Snap is Overweight; while the average price target on the stock is US$23.73 per share, according to MarketWatch.
Snap last traded at US$24.74 per share, though traded down a further 6.35% in after-hours trade.
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