Snap shares were down 11% immediately after the report was released Tuesday, before recovering somewhat to a 4% loss after an optimistic peek at Q3. The company said it lost $326 million, or 23 cents a share, compared with a loss of $255.2 million, or 19 cents a share, in the year-ago quarter. After adjusting for stock-based compensation and other factors, Snap reported a loss of $95.6 million, or 9 cents a share, compared with an adjusted loss of $78.7 million, or 6 cents a share, a year ago.
Revenue improved 17% to $454 million from $388 million a year ago. The company declined to project what its results could be for the third quarter. (MW)