On August 3, Snap (NYSE: SNAP) reported a loss of $164 million (10 cents per share) in the second quarter, compared with $262.6 million (16 cents per share) a year earlier.
Revenue for the reporting period increased to $1.6 billion from $1.34 billion. Preliminary forecasts had projected a loss of 12 cents per share on revenue of $1.54 billion.
The number of daily active users rose 5% to 493 million, versus the consensus forecast of 487 million.
Snap expects third-quarter revenue of $1.7-1.74 billion and adjusted profit of $300-350 million, compared with the consensus forecast of $1.7 billion and $327 million, respectively.
The company also increased annual infrastructure spending by $50 million to $1.65-1.7 billion.