Connect with us


Snapchat’s New Features Help Snap Beats User, Revenue Estimates With Highest Growth in 4 Years



snapchat dual camera feature


  • Snapchat’s New Features Help Snapchat to Beats User and Revenue Estimates.
  • Shares of  Snapchat rose about 10% to $69.20 in extended trading.
  • Daily active users rose 23% to 293 million during the quarter ended June 30.

Snapchat on Thursday reported its second-quarter earnings, beating expectations across the board for earnings, revenue, and user growth. Snap’s net loss narrowed 53% to $152 million, from a loss of $326 million a year ago. Snap reported 293 million daily active users, up nearly 5% from the 280 million the company reported in April.

Financial Details:

  • Revenue increased 116% to $982 million in Q2 2021, compared to the prior year.
  • Net loss improved 53% to $(152) million in Q2 2021, compared to the prior year.
  • Adjusted EBITDA improved 223% to $117 million in Q2 2021, compared to the prior year.

  • Operating cash flow was $(101) million in Q2 2021, compared to $(67) million in the prior year.
  • Free Cash Flow was $(116) million in Q2 2021, compared to $(82) million in the prior year.
  • Common shares outstanding plus shares underlying stock-based awards totaled 1,681 million on June 30, 2021, compared to 1,616 million one year ago.

Chief Executive Evan Spiegel said in written remarks with the earnings release:

“We are pleased by the progress our team is making with the development of our augmented reality platform, and we are energized by the many opportunities to grow our community and business around the world.” For its third quarter, Snap expects revenue in the range of $1.07 billion to $1.085 billion. That’s an increase of about 58% to 60%  above estimates of $1.01 billion.

Here’s what Snap reported versus Wall Street’s estimates:

  • Adjusted earnings per share: 10 cents vs. 1 cent loss forecast by Refinitiv
  • Revenue: $982 million vs. $846 million forecast by Refinitiv
  • Global daily active users (DAUs): 293 million vs. 290.3 million per Street Account
  • The average revenue per user (ARPU): $3.35 vs. $2.92 per Street Account.

Snapchat Introduces 3D Bitmoji to Improve Digital Avatars

Snapchat will let users better personalize their Bitmoji with over 1,200 new body poses, facial expressions, gestures, and backgrounds. Additionally, Snapchat has also revamped the way Bitmoji avatars are displayed on the user’s personal friendship profiles. Users will also see enhanced details on their Bitmoji avatars, such as “clothing textures and unique embellishments from their favorite fashion labels”.

Thanks for Reading!!

Also Read:

Instagram will now be able to translate text in stories: Check all Details

Garena Free Fire Redeem Codes Brings Flaming Red Weapon Loot Crate, Street Boy Bundle, More



Click to comment

Leave a Reply

Your email address will not be published.

Copyright © 2020 - 2021, All rights reserved.