What happened: Snap (SNAP) stock surged 13% on Tuesday.
What's behind the move: The social media company's second quarter revenue was higher than expected, and its loss per share was smaller than expected.
Quarterly revenue increased 18% year over year to $1.6 billion, versus expectations of $1.53 billion.
"After several quarters of improving our ad products and go-to-market approach, we saw better momentum with large advertisers in North America and stronger revenue growth internationally," CEO Evan Spiegel said during the earnings call. "World Cup-related spending contributed during the quarter, alongside continued strength among small and medium-sized businesses."
#expected #year #north
What's behind the move: The social media company's second quarter revenue was higher than expected, and its loss per share was smaller than expected.
Quarterly revenue increased 18% year over year to $1.6 billion, versus expectations of $1.53 billion.
"After several quarters of improving our ad products and go-to-market approach, we saw better momentum with large advertisers in North America and stronger revenue growth internationally," CEO Evan Spiegel said during the earnings call. "World Cup-related spending contributed during the quarter, alongside continued strength among small and medium-sized businesses."
#expected #year #north
3 months ago
