Snap reports narrower-than-expected loss; won't provide Q3 revenue guidance

Jul. 21, 2022 4:10 PM ETSnap Inc. (SNAP)By: Gaurav Batavia, SA News Editor37 Comments

Snap press release (NYSE:SNAP): Q2 Non-GAAP EPS of -$0.02 beats by $0.01.
Revenue of $1.11B (+13.0% Y/Y) misses by $20M.
Shares -4%.
DAUs were 347 million in Q2 2022, an increase of 54 million, or 18%, year-over-year.
DAUs increased sequentially and year-over-year in each of North America, Europe, and Rest of World.
ARPU of $3.20 vs. $3.20 in 1Q21 vs. $3.35 in 2Q21.
Given uncertainties related to the operating environment, we are not providing our expectations for revenue or adjusted EBITDA for the third quarter of 2022.