Snap Posts Modest Q2 User and Revenue Increases
Evan Spiegel says the AI-enabled glasses are Snap’s biggest long-term opportunity as pre-orders open for a $2,195 model.
- Snap Q2 revenue climbed 19% year-over-year to $1.6 billion, with CEO Evan Spiegel identifying the company's new augmented reality glasses, SPECS, as its "largest long-term opportunity."
- Reporting a net loss of $164 million—an improvement over the $263 million loss in the prior year—Snap has intensified efforts to rebuild its monetization platform and improve its go-to-market strategy.
- Retailers drove a 43% growth in dynamic product ads, while advertising revenue grew 9% year-over-year and monthly active users reached 971 million globally.
- Pre-Orders for the $2,195 glasses are now open, with the device set to launch on September 16 in the United States, United Kingdom, and France.
- Snap projects a full-year adjusted operating expense outlook of $2.75 billion, leveraging an AI-enabled operating model to drive future margin expansion and free cash flow.
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