Snap Q2 revenue falls 4% YoY to $1.07B; guides Q3 revenue down 5% to flat

Snap Inc

2023-Q2 EPS reported -$0.44 revenue$2,056,277,000

Net loss narrowed to $377M ($0.24/shr) from $422M; adjusted EBITDA was -$38M vs +$7M a year ago.
Daily active users rose 14% YoY to 397M; Snapchat+ subscribers exceeded 4M.
Q3 revenue forecast $1,070-$1,130M (negative 5% to flat YoY); adj. EBITDA seen at -$50M to -$100M.
Infrastructure costs per DAU estimated at $0.79-$0.84 in Q3; modest sequential headcount growth expected.
Ad platform transition cited; purchase conversions up >30% QoQ but forward visibility limited.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Snap Inc reported three months ended June 30, 2023 results: revenue Revenue was $1,068 million, net income Net loss was $377 million, EPS Diluted net loss per share attributable to common stockholders $ (0.24).

Period: three months ended June 30, 2023
Revenue: Revenue was $1,068 million
Net income: Net loss was $377 million
EPS: Diluted net loss per share attributable to common stockholders $ (0.24)
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- Snap Inc. Announces Second Quarter 2023 Financial Results Daily Active Users increased 14% year-over-year to 397 million Second quarter revenue was $1,068 million Trailing twelve months operating cash flow was $250 million Trailing twelve months Free Cash Flow was $81 million SANTA MONICA, Calif. – July 25, 2023 – Snap Inc. (NYSE: SNAP)

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Source: SEC EDGAR

accession 0001564408-23-000036

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