=Snap (SNAP) reported earnings on Thur 21 July 22 (a/h)

 

Snap beats by $0.01, misses on revs; doesn't provide Q3 guidance due to uncertainties related to operating environment; authorizes $500 mln stock repurchase program 

• Reports Q2 (Jun) loss of $0.02 per share, $0.01 better than the S&P Capital IQ Consensus of ($0.03); revenues rose 13.1% year/year to $1.11 bln vs the $1.14 bln S&P Capital IQ Consensus.
• DAUs were 347 million in Q2 2022, an increase of 54 million, or 18%, year-over-year. DAUs increased sequentially and year-over-year in each of North America, Europe, and Rest of World.
• Free Cash Flow was $(147) million, compared to $(116) million in the prior year.
• Given uncertainties related to the operating environment, company is not providing our expectations for revenue or adjusted EBITDA for the third quarter of 2022.
• Share Buyback: Co also announces its Board of Directors has authorized a stock repurchase program of up to $500 million of its Class A common stock.