Snap (NYSE:SNAP) shares surged more than 8% in U.S. pre-market trading after the social media company reported second-quarter 2026 revenue ahead of Wall Street expectations and issued an upbeat sales outlook for the current quarter.
The stronger performance was driven by solid advertising growth, improving user engagement and continued progress on cost reduction initiatives.
The Santa Monica-based company reported a quarterly loss of $0.10 per share, improving from the same period last year.
Revenue increased to $1.60 billion, comfortably exceeding ****** yst expectations of approximately $1.54 billion.
Snap also benefited from ongoing cost-cutting measures. The company, which continues to expand the use of artificial intelligence across its business, previously announced plans to reduce its full-time workforce by around 16% to improve efficiency.
#revenue #reported #quarter #cost
The stronger performance was driven by solid advertising growth, improving user engagement and continued progress on cost reduction initiatives.
The Santa Monica-based company reported a quarterly loss of $0.10 per share, improving from the same period last year.
Revenue increased to $1.60 billion, comfortably exceeding ****** yst expectations of approximately $1.54 billion.
Snap also benefited from ongoing cost-cutting measures. The company, which continues to expand the use of artificial intelligence across its business, previously announced plans to reduce its full-time workforce by around 16% to improve efficiency.
#revenue #reported #quarter #cost
1 day ago
