Snap beats revenue estimates on ad boost from World Cup, shares surge

The company's daily active users increased about 5% to 493 million during the three months to June 30, maintaining the same pace of growth as in the prior two quarters.

It reported nearly a 7% decline in North America DAUs and about a 2% drop in Europe.

Snap expects third-quarter revenue of $1.70 billion to $1.74 billion, with its midpoint slightly above the estimate of $1.70 billion. It forecast adjusted earnings before interest, taxes, depreciation and amortization of $300 million to $350 million, compared with the estimate of $329.9 million.

Snap said it continues to monitor the evolving legal and regulatory landscape that could materially impact its business.

The company will share more details about its augmented-reality glasses, Specs, at the launch event in Los Angeles on September 16. It had unveiled the device for consumers at a hefty price of $2,195 in June.

Aug. 3 (Reuters) - Snap beat second-quarter revenue estimates on Monday, thanks to increased advertising spending during the FIFA World Cup and stronger campaign activity from large advertisers in North America, sending its shares up 13% in extended trading.

Second-quarter revenue jumped around 19% to $1.60 billion, while analysts estimated , according to data compiled by LSEG.