Snap Q2 2025 earnings: eCPM decline, DR revenue slowdown

August 11, 2025

Snap released its Q2 2025 earnings last week: Snap missed analyst expectations on both revenue and ARPU in Q2, although its guidance for Q3 was higher than expectations. The company's stock declined by as much as 15% in after-hours trading following the release. Snap noted that its advertising revenue attributed to direct response ("DR") grew by 5% […]

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