Nearly 1 Billion People Now Use Snapchat Every Month

Snap Inc. (NYSE: SNAP ) stock climbed nearly 9% in Tuesday’s premarket session after the social media company reported second-quarter results that topped Wall Street expectations and issued third-quarter revenue guidance above estimates. Snap’s user base continued to expand during the second quarter, underscoring the platform’s growing global reach. Monthly active users rose to 971 million, bringing Snapchat within striking distance of the 1 billion milestone, while daily active users climbed to 493 million. The company said stronger engagement across products such as Spotlight, Snap Map and AI-powered recommendations helped drive user growth. Snap Earnings Beat On Strong Ad Growth Snap reported a second-quarter loss of 10 cents per share, beating analysts’ expectations for a loss of 12 cents, according to Pro. Revenue rose 19% year over year to $1.6 billion, e...