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Update your settings here to see it.Įason is in the midst of his best stretch of the season. Another interesting development to try to compete, some think with Zoom.This content is not available due to your privacy preferences. They're coming to desktop, which we heard in the last couple of days. They have this subscription model they're rolling out, $3.99 a month has some exclusive features. They had negative expectations coming in here, and they have made a couple of interesting changes ahead of this. So 347 million, you said, I think, daily active users. Still a pretty solid number in terms of the daily active users, which estimates were that it'd come in lower than that. So whatever direction they're currently headed in, they'll be staying in that direction, at least until 2027.

So Snap searching for some direction here, but it seems that, at least at the top, they're still going to be pretty consistent.Ĭo-founders Bobby Murphy and Evan Spiegel continuing with new long term employment pacts through at least 2027. And that's to offset a portion of the dilution related to the issuance of restricted stock units to employees. As we look at some of the commentary here, we're seeing the company authorized $500 million with its stock repurchase program over the next 12 months. I mean, we're seeing a lot of movement here. So Rochelle, we're seeing the reaction in the shares right now with the stock off just about 16.5%. Second quarter free cash flow negative at $147 million. Average revenue per user also falling 4% during the quarter to $3.20.

But I think it's that headline missed on revenue. Also slowing the rate of operating expense growth. Snap is also planning to slow its rate of hiring, something we've talked about with the company in the past. That's a jump of 18% here for the company.Ī couple of other headlines that are crossing right now.

Daily active users coming in at 347 million. Taking a look at some of these other numbers that are very important here to Snap. That was actually better than what the Street was expecting at just over $0.04. The estimate was for $1.14 billion adjusted loss per share of $0.02. Revenue missing the Street's expectations $1.11 billion. Yahoo Finance Live anchors assess Snap's second-quarter earnings report.