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Snap: Q2 revenue up 13%

( - Santa Monica-based Snap has reported a 13% y-o-y increase in revenue to 1,111 million dollars.

Its net loss however, reached 422 million dollars, compared to 152 million dollars the previous year. Adjusted EBITDA was 7 million dollars, compared with 117 million dollars a year ago.

Free cash flow was $(147) million, compared to $(116) million the previous year.

Snapchat has however, announced some 347 million active users in Q2 2022, up 54 million, or 18%, from a year ago.

The number of users increased sequentially and y-o-y in North America, Europe and the rest of the world.

Following the announcement, Jefferies reaffirmed its Buy recommendation on the stock with a reduced target price of 20 dollars (from 25 dollars).

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