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The Economic Times
The Economic Times
Technology

Snap beats revenue estimates on ad boost from World Cup, shares surge

SNAP World Cup

Snap beat second-quarter revenue estimates on Monday, thanks ​to increased advertising spending ​during the FIFA World Cup and stronger campaign activity ​from large advertisers in North America, sending its shares up 13% in extended trading.The social media company is bolstering its appeal by focusing on direct-response ads ‌and improving ⁠its ⁠ad platform by offering AI-powered tools for automated bidding, budgeting and user targeting.

"After ​several quarters of improving our ad products and go-to-market approach, we saw better ​momentum with large advertisers in North America," CEO Evan Spiegel said. "The World Cup-related spending contributed during the quarter, alongside continued strength among ​small- and medium-sized businesses."

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