Snap Q2 Earnings Highlights: Revenue And EPS Beat, Q3 Guidance, Update On Artificial Intelligence Chatbot And More
Portfolio Pulse from Chris Katje
Snap Inc. reported Q2 revenue of $1.07 billion, down 4% YoY but beating the Street consensus estimate of $1.05 billion. The company reported a loss of two cents per share, better than the estimated loss of four cents per share. Daily active users were up 14% YoY to 397 million. The company's AI chatbot, My AI, has been used by 150 million people since its launch in May. Snap is guiding for Q3 revenue to be between $1.07 billion and $1.13 billion, ahead of the Street consensus estimate of $945.95 million.
July 25, 2023 | 8:42 pm
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Snap's Q2 results beat estimates with revenue of $1.07 billion and a smaller loss per share than expected. The company's AI chatbot has seen significant use since its launch. However, Snap's shares fell 19% in after-hours trading.
Despite beating estimates, Snap's shares fell in after-hours trading, indicating that investors may have had higher expectations. The company's AI chatbot has seen significant use, which could potentially drive future revenue.
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