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Snap -6% as Q2 loss, revenues disappoint Street

Published 08/10/2017, 04:16 PM
© Reuters.  Snap -6% as Q2 loss, revenues disappoint Street
SNAP
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  • Snap (SNAP +1%) has tumbled 6% in volatile trade after hours after its Q2 report came up short of expectations on top and bottom lines
  • Net loss widened to $443.1M from a year-ago $115.9M. Revenues rose 153% to $181.7M, short of expectations for $186.5M.
  • EBITDA came to -$194M vs. an expected -$185.4M.
  • Operational metrics looked better than financials: Daily active users rose to a relatively healthy 173M from last year's 143M, up 21% Y/Y and up 7.3M (4%) from the previous quarter.
  • Average revenue per user came in at $1.05, over the psychological barrier of $1.00 and more than double a year ago ($0.50). It rose 16% Q/Q from Q1's $0.90.
  • Capex was $19.4M vs. a year-ago $16.4M.
  • Free cash flow was -$228.94M. Cash, equivalents and marketable securities stood at $2.8B.
  • Conference call to come at 5 p.m. ET.
  • Press Release
  • Now read: Snap Still Priced For Rapid Growth. Q2 May Show Slowing Growth.


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