Fri, Aug 2, 10:15 AM (88 days ago)
Snap Inc.'s Q2 2024 financial report highlights key performance metrics and financial health. The company reported revenue of $1.24 billion, a 16% increase year-over-year, driven by growth in advertisers and improved auction-based advertising demand. Daily Active Users (DAUs) grew by 9% to 432 million, while Average Revenue Per User (ARPU) increased to $2.86 from $2.69. Despite these gains, Snap reported a net loss of $248.6 million, an improvement from the $377.3 million loss in Q2 2023. Adjusted EBITDA turned positive at $55.0 million, compared to a negative $38.5 million last year. The company faced increased costs, particularly in infrastructure and restructuring charges, but managed to reduce losses through cost control and revenue growth. Cash, cash equivalents, and marketable securities totaled $3.1 billion. Future uncertainties include macroeconomic factors and changes in mobile operating systems impacting advertising capabilities.