![]() Growth in content offerings, including the introduction of a new slate of Snap Originals. ![]() Investment in the augmented reality platform with product updates and expansions.Snap’s press release also highlighted achievements and successes from the second quarter: $1.14 billion forecast, sending the stock reeling in after-hours trading.Īs GOBankingRates reported, Evan Spiegel, SNAP CEO, said in the earnings release that “while the continued growth of our community increases the long-term opportunity for our business, our financial results for Q2 do not reflect our ambition.” Spiegel said the company is “evolving our business and strategy to reaccelerate revenue growth, including innovating on our products, investing heavily in our direct response advertising business, and cultivating new sources of revenue to help diversify our topline growth.” 1 cent forecast and revenue of $1.11 billion vs. Snap missed earnings-per-share and revenue estimates with a loss of 2 cents per share vs. That result exceeded a StreetAccount forecast of 344.2 million, according to CNBC. Daily active users increased 18%, to 347 million, with growth since the previous quarter and year over year in North America, Europe and “Rest of the World,” according to a Snap press release. ![]() Snapchat released its second-quarter 2022 earnings on July 21. In addition, Snapchat expanded offerings for advertisers, enabling measurement solutions, rolling out multi-format ad delivery and launching Shopping Lenses and a try-on interface for AR e-commerce. The company also expanded its mapping tools, Sounds, Lenses and AR experiences. The platform’s Discover feed now streams content from creators like NBCUniversal, ViacomCBS, Disney and Universal Music in addition to original programming. Last year was important for Snapchat in terms of its content, products and partnerships, as well. The fourth quarter also was Snapchat’s first profitable one, on a net income basis, since going public. However, the company ended the year on a positive note, with earnings, revenue and user growth beating analyst estimates, CNBC reported. Snapchat experienced some ups and downs last year, due in part to changes Apple made to mobile user privacy settings, which disrupted mobile advertising when the changes rolled out with an iOS update. Snapchat Has Its First Profitable Quarter in 2021
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