Snap Inc (WBO:SNAP)

€ 11.136 -0.704 (-5.95%) Market Cap: 18.53 Bil Enterprise Value: 19.55 Bil PE Ratio: 0 PB Ratio: 8.64 GF Score: 75/100

Q2 2024 Snap Inc Earnings Call Transcript

Aug 01, 2024 / 09:30PM GMT

Release Date Price: €12.28 (+0.41%)

Transcript 10-Q8-K

Key Points

Positve

Snap Inc (SNAP) reached over 850 million monthly active users and 432 million daily active users.
Revenue grew by 16% year over year, driven by the success of Snapchat Plus and direct response advertising.
The number of active advertisers more than doubled year over year in Q2.
Adjusted EBITDA was $55 million, up from a negative $38 million in Q2 of the prior year.
Snapchat Plus subscription business reached over 11 million subscribers.

Negative

Brand-oriented advertising revenue declined by 1% year over year due to weak demand from certain consumer discretionary verticals.
North America daily active users saw a slight decline year over year.
Infrastructure costs increased due to investments in machine learning and AI.
Free cash flow was negative $73 million in Q2.
Legal and regulatory costs increased, including a settlement with the State of California and a retroactive digital services tax from the Canadian government.

Operator

Good afternoon, everyone, and welcome to Snap Inc's second quarter 2024 earnings conference call. (Operator Instructions)

I would now like to turn the call over to David Ometer, Head of Investor Relations.

David Ometer

Snap Inc - Head of Investor Relations

Thank you, and good afternoon, everyone. Welcome to Snap's Second Quarter 2024 earnings conference call. With us today are Evan Spiegel, Chief Executive Officer and Co-Founder; and Derek Anderson, Chief Financial Officer.

Please refer to our Investor Relations website at investor dot snap.com to find today's press release slides investor letter and investor presentation. This conference call includes forward-looking statements, which are based on our assumptions as of today. Actual results may differ materially from those expressed in these forward-looking statements. And we make no obligation to update our disclosures. For more information about factors that may cause actual results to differ materially from these forward-looking statements, please refer to the press release we issued

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