Snap Inc. (NYSE: SNAP) released its most recent quarterly results after markets closed Thursday. The company posted a net loss of $0.16 per share and $182 million in revenue versus consensus estimates from Thomson Reuters that called for a net loss of $0.15 per share and $186.22 million in revenue. The second quarter from last year had a net loss of $0.13 per share and $71.8 million in revenue.
Daily active users (DAUs) grew from to 173 million from 143 million in the second quarter of 2016, an increase of 30.5 million or 21% year-over-year. DAUs increased 7.3 million or 4% sequentially, from 166 million in the first quarter 2017.
Average revenue per user (ARPU) was $1.05, an increase of 109% over the second quarter of last year when ARPU was $0.50. ARPU increased 16% sequentially when ARPU was $0.90.
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Hosting costs per DAU were $0.61 in the second quarter, as compared to $0.55 in 2016 and $0.60 in the first quarter of this year.
On the books, cash, cash equivalents, and marketable securities totaled $2.8 billion at the end of the quarter, compared with $987.4 million at the end of the previous fiscal year.
Shares of Snap closed at $13.77 on Thursday, with a consensus analyst price target of $19.05 and a 52-week range of $11.91 to $29.44. Following the release of the earnings report, the stock was down 8% at $12.66 in the after-hours trading session.
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