India, Aug. 3 -- Snap Inc. (SNAP) on Monday reported a narrower second-quarter net loss, as revenue grew 19 percent from last year, driven by improvements in its advertising business and growth in direct revenue.
The social media company reported a net loss of $163.96 million or $0.10 per share for the second quarter, compared with a loss of $262.57 million or $0.16 per share in the prior-year period.
Quarterly revenue increased 19 percent to $1.599 billion from $1.345 billion a year ago.
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"Q2 reflects the progress we are making to strengthen our core business and build a more durable financial foundation for Snap," said Evan Spiegel, co-founder and CEO....