cnbc_topnews

Snap's stock jumps 10% on earnings beat and strong sales forecast

📰 source: cnbc_topnews · 💼 business

snap's stock jumped over 10% in extended trading after the company reported better-than-expected revenue and earnings for the second quarter and issued a forecast that topped analyst estimates.

revenue came in at $1.6 billion versus $1.54 billion expected, with global daily active users at 493 million versus 487 million. adjusted earnings hit $250 million, ahead of the $192 million estimate. third-quarter sales guidance of $1.7 billion to $1.74 billion topped expectations, though the midpoint of adjusted earnings guidance trailed streetaccount projections. ceo evan spiegel cited 'improving momentum in our advertising business' and a boost from world cup spending, but north american daily active users fell 7% year over year to 92 million.

the company also lifted its full-year infrastructure costs by $50 million, citing investment in ai and machine learning infrastructure. snapchat+ and other revenue rose 85% to $316 million. separately, snap revealed its first consumer ar glasses, dubbed specs, priced at $2,195.

why it matters: beat and strong forecast signal ad turnaround, but north america dau slide and ai spending raise cost questions.

source: cnbc_topnews
sentiment: +0.80 · impact: 0.50

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‘Like being in prison’: the ship crews stuck in Gulf since February