Snap Inc. (NYSE:SNAP) Q2 2024 Earnings Conference Call August 1, 2024 5:30 PM ET

Company Participants

David Ometer - Head, Investor Relations
Evan Spiegel - Chief Executive Officer & Co-Founder
Derek Andersen - Chief Financial Officer

Conference Call Participants

Kenneth Gawrelski - Wells Fargo
Daniel Salmon - New Street Research
Richard Greenfield - Lightshed Partners
Eric Sheridan - Goldman Sachs

Operator

Good afternoon, everyone, and welcome to Snap Incorporated’s Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

I would now like to turn the call over to David Ometer, Head of Investor Relations.

David Ometer

Thank you and good afternoon, everyone. Welcome to Snap’s second quarter 2024 earnings conference call. With us today are Evan Spiegel, Chief Executive Officer and Co-Founder; and Derek Andersen, Chief Financial Officer. Please refer to our Investor Relations' website at investor.snap.com to find today’s press release, slides, Investor Letter, and investor presentation.

This conference call includes forward-looking statements which are based on our assumptions as of today. Actual results may differ materially from those expressed in these forward-looking statements, and we make no obligation to update our disclosures.

For more information about factors that may cause actual results to differ materially from these forward-looking statements, please refer to the press release we issued today, as well as risks described in our most recent Form 10-K or Form 10-Q, particularly in the section titled “Risk Factors”.

Today’s call will include both GAAP and non-GAAP measures. Reconciliations between the two can be found in today’s press release. Please note that when we discuss all of our expense figures, they will exclude stock-based compensation and related payroll taxes, as well as depreciation and amortization, and certain other items. Please refer to our filings with the SEC to understand how we calculate any of the metrics discussed on today’s call.

With that, I’d like to turn the call over to Evan.

Evan Spiegel

Hi, everyone, and thank you for joining our call. Q2 marked an important milestone for Snap as we reached more than 850 million monthly active users and 432 million daily active users on the path to our goal of 1 billion monthly active users. Our focus on visual communication between friends and family is a strategic advantage that has enabled us to serve more than 75% of 13 to 34-year-olds in over 25 countries. As Snapchat has grown, our community has grown with us, and approximately 80% of Snapchatters are above the age of 18. We also continue to broaden and deepen engagement with our content platform in Q2, with global content viewers growing 12% year-over-year, and global time spent watching content growing 25% year-over-year.