00:00It's Benzinga, bringing Wall Street to Main Street
00:02Snap shares climbed nearly 9% in Tuesday's pre-market session after the company reported
00:07second-quarter results that beat Wall Street expectations and issued third-quarter revenue
00:11guidance above estimates, according to Benzinga. Monthly active users rose to $971 million in
00:16the second quarter, putting Snapchat within reach of the $1 billion milestone, while daily
00:20active users climbed to $493 million. CEO Evan Spiegel said artificial intelligence
00:26is accelerating product development, improving engagement, and boosting advertiser results,
00:30while free cash flow per share is now Snap's primary long-term financial objective.
00:34Spiegel called Specs Snap's largest long-term growth opportunity and said more details will
00:39be announced at a September 16th launch event in Los Angeles. Snap's U.S. audience continues to
00:44grow among users age 35 and older, while its AI-powered code reviewer handles 90% of pull
00:50requests across the company. For all things money, visit Benzinga.com.
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