Snap Q2 Revenue Beats Expectations, Stock Surges 13% in After-Hours Trading

August 4th, Snap announced second-quarter revenue of $16 billion, a year-on-year increase of approximately 19%, exceeding market expectations. This strong performance was mainly driven by World Cup advertising spending and increased activities from large North American clients, causing the stock price to surge by 13% in after-hours trading.

CEO Evan Spiegel avoided questions about the pre-order demand for the Specs smart glasses during the earnings call. The device is priced at $2,195 and is set to be launched in Los Angeles on September 16th. The company's daily active users have reached 493 million, but there has been a decline in users in North America and Europe.