Snap Stock Soars 13% On Blowout Quarter; Daily Active Users Hit 293 Million

deadline.com:

Snapchat parent Snap stock surged 9% Thursday as the company reported a blowout second quarter with beats on the top and bottom line and for daily active users, which hit 293 million — up 23% from the year ago.Revenue soared 116% to $982 million.

Net losses narrowed by 53% to $152 million.“Our second quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” said Evan Spiegel, CEO.“We are pleased by the progress our team is making with the development of our augmented reality platform, and we are energized by the many opportunities to grow our community and business around the world,” he said.MOREHow to watch everything on