Second quarter revenue increased 16% year-over-year to $1,237 million
Daily Active Users increased 9% year-over-year to 432 million
Net loss improved 34% year-over-year to $249 million
Adjusted EBITDA improved 243% year-over-year to $55 million
Snap Inc. (NYSE: SNAP) today announced financial results for the quarter ended June 30, 2024.
“Our community grew to reach more than 850 million monthly active users in Q2, with more than 11 million Snapchat+ subscribers,” said Evan Spiegel, CEO. “We continued to scale our advertising platform with active advertisers more than doubling year-over-year. We are looking forward to hosting our upcoming Snap Partner Summit on September 17th, where we will announce new updates to our service.”
Q2 2024 Financial Summary
Revenue was $1,237 million, compared to $1,068 million in the prior year, an increase of 16% year-over-year.
Net loss was $249 million, compared to $377 million in the prior year.
Adjusted EBITDA was $55 million, compared to $(38) million in the prior year.
Operating cash flow was $(21) million, compared to $(82) million in the prior year.
Free Cash Flow was $(73) million, compared to $(119) million in the prior year.
On a trailing twelve month basis, operating cash flow was $244 million and Free Cash Flow was $15 million.
Source: https://ca.finance.yahoo.com/news/snap-inc-announces-second-quarter-201000990.html
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