Staff or Guest writer for The Dog of Wall Street.

2020-07-21 19:44

Snap Inc. today announced financial results for the quarter ended June 30, 2020.Here the highlights:

• Operating cash flow improved by $29 million to $(67) million in Q2 2020, compared to the prior year.
• Free Cash Flow improved by $21 million to $(82) million in Q2 2020, compared to the prior year.
• Common shares outstanding plus shares underlying stock-based awards totaled 1,616 million at June 30, 2020, compared to 1,553 million one year ago.
• Revenue increased 17% to $454 million in Q2 2020, compared to the prior year.
• Net loss was $(326) million in Q2 2020, compared to $(255) million in the prior year.
• Adjusted EBITDA was $(96) million in Q2 2020, compared to $(79) million in the prior year.

“We continued to grow our community and business in a challenging and uncertain environment,” said Evan Spiegel, CEO. “I am proud of our team for innovating on new experiences for our community and driving value for our partners, demonstrating the importance of our service in people's lives. We are grateful that the resilience of our business has allowed us to remain focused on our future growth and opportunity.”

Snap Inc.'s investors have been rewarded this year, as shares have performed well. Shares have been up 51% year to date. Today the stock is down 2.10%.