Shares in Snap Inc. rose more than 20% after surpassing revenue and earnings expectations. With adjusted earnings per share of three cents and revenue of $1.195 billion, Snap's positive performance drove investor confidence.
Snapchat's active user base grew by 10% year-over-year, surpassing expectations. The company also saw growth in average revenue per user, time spent on Spotlight content, Snap Star program engagement, and Premium Snapchat+ subscribers.
Snap invested in augmented reality initiatives, including the launch of Sponsored AR Filters and continued development of AI models. Strategic partnerships and a new advertising platform further enhanced Snap's position in the market.
The positive outlook for Snap Inc. in its second quarter, coupled with strong user growth and revenue metrics, underscored the company's ability to deliver value to both its community and advertising partners.
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