Snap Q2 Revenue Beats Expectations, Stock Surges 13% in After-Hours Trading

BlockBeats News, August 4th, Snap announced a second-quarter revenue of $16 billion, a year-on-year increase of approximately 19%, exceeding market expectations. This growth was mainly due to World Cup advertising spending and enhanced activities with key North American clients. According to BIT (bit.com) market data, the stock price surged 13% in after-hours trading.

CEO Evan Spiegel avoided questions about the pre-order demand for Specs smart glasses during the earnings call. The device is priced at $2,195 and will be released in Los Angeles on September 16th. The company's daily active users have increased to 493 million, but there was a decline in users in North America and Europe.