"Snap reported a 9% increase in revenue year-over-year, totaling $1.345 billion, while daily active users rose by 9% to 469 million and free cash flow turned positive."
"Despite a net loss of $263 million in the second quarter, which is greater than the previous year's loss, Snap saw significant user engagement and growth in its subscription revenue."
Snap's financial report for the second quarter showed a 9% revenue increase to $1.345 billion, alongside a 9% rise in daily active users to 469 million. Monthly active users grew by 7% to 932 million, indicating strong engagement. The company achieved positive free cash flow of $24 million, a turnaround from the previous year's cash burn. However, Snap faced a net loss of $263 million, larger than last year's loss, and saw a decline in adjusted EBITDA to $41 million, raising valuation concerns due to stock-based compensation and dilution.
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