Snap Inc. (NYSE: SNAP) reported first quarter 2021 earnings results today.
Revenue increased 66% year-over-year to $770 million.
GAAP net loss decreased 6% to $286 million while loss per share dropped 11% to $0.19 compared to last year. Adjusted EPS amounted to $0.00 versus a loss of $0.08 per share last year.
Both the top and bottom line numbers were better than expected.
Daily active users increased 22% YoY to 280 million.
For Q2 2021, Snap expects revenue of $820-840 million.
The stock gained nearly 5% in aftermarket hours on Thursday following the results announcement.
