Snap Sees Q3 Revenue $1.07B-$1.13B Vs $945.95M Est.
Portfolio Pulse from Benzinga Newsdesk
Snap Inc. expects Q3 revenue to be between $1.07B and $1.13B, compared to an estimate of $945.95M. The company anticipates DAU to reach 405 million to 406 million in Q3. The guidance range reflects the company's ongoing transition in its advertising platform and limited visibility of advertising demand. Adjusted EBITDA is estimated to be between negative $50 million and negative $100 million due to investments in ML, AI, and other infrastructure.
July 25, 2023 | 8:13 pm
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Snap Inc. expects higher Q3 revenue than estimated, despite ongoing transition in its advertising platform and investments in ML, AI, and other infrastructure. This could potentially impact the company's stock positively.
The news is directly related to Snap Inc.'s financial performance. The higher than estimated revenue forecast indicates strong business performance, which could potentially attract investors and drive the stock price up. However, the company's ongoing transition in its advertising platform and investments in infrastructure could also impact profitability.
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