Snap Inc (NYSE:SNAP) stock is trading lower after reporting second quarter financial results Tuesday after market close.
SNAP is seeing a sharp price decline in after-hours trading. See real-time price here.
What Happened: Snap reported second-quarter revenue of $1.345 billion, up 9% year-over-year. The revenue total beat a Street consensus estimate of $1.344 billion according to data from Benzinga Pro.
The company reported a loss of 16 cents per share, which was in line with estimates from analysts.
Snap ended the quarter with 932 million monthly active users, up 7% year-over-year. The company had 469 million daily active users in the second quarter, up 9% year-over-year.
"Our global community continued to grow in Q2, reaching 932 million Monthly Active Users as we continued to invest in AI and augmented reality," Snap CEO Evan Spiegel said. "With meaningful inventory and conversions growth this quarter, including the broader rollout of Sponsored Snaps, we're excited about the opportunity to translate improved advertiser performance into topline acceleration."
The company said Spotlight reached more than 550 million monthly active users on average in the second quarter, with time spent on Spotlight up 23% year-over-year. Spotlight now represents over 40% of total content time spent.
Snap Map grew to more than 400 million monthly active users in the quarter.
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What's Next: The company said it is working on diversifying its revenue growth with ad platform improvements being helped by AI advancements.
Snap is launching its first consumer-ready Specs AR glasses in 2026, which the company calls an "exciting milestone" for the company and a "critical step" in its long-term vision.
The company will share more on its third-quarter financial outlook during its earnings call Tuesday night.
SNAP Price Action: Snap stock is down 14.48% to $8.03 in after-hours trading Tuesday, versus a 52-week trading range of $7.08 to $13.28.
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