Snap Q2 2022 Earnings Snapshot

Snap Inc. is a camera and social media company, founded on 2011. The main revenue of Snap comes from advertising with nearly 88% coming from the US. Snapchat, as its social networking platform, owns approximately 347 million daily active users.

• Revenue increased 13% YoY to $1,111 million in Q2 2022.

• Average revenue per user decreased 4% YoY to $3.20 in Q2.

• Net loss was $422 million in this quarter, compared to $152 million YoY.

• Operating cash flow was $(124) million, compared to $(101) million in Q2 2021.

• Snap does not Issue future guidance and the CEO Evan Spiegel extended his contract to 2027 as the company warns of a "substantially reduced rate of hiring."

• Snap Inc. authorized a stock repurchasing program up to $500 million.

By July 2022, Snap share has dropped over 60% since the start of 2022, underperforming the S&P 500, which is about 16% declined in the same period.