Snap will report its earnings for the second quarter of 2020 on Tuesday. Silicon Valley and Wall Street will be looking to the results to gauge the health of the digital advertising industry.
Analysts are expecting Snap to see growth in user engagement and daily active users in Q2 2020 on the back of afor the social media company. Digital platforms have continued to see upticks in use through the first half of 2020, and analysts expect second-quarter results to show digital ad revenue slowly starting to recover.
According to Wall Street estimates, Snap is expected to report $441.6 million in revenue for Q2 2020, up 13.8% year-over-year compared with Q2 2019. Snap's stock price has risen 55% in 2020, bucking the trend of a recession many on Wall Street are seeing. Digital advertising has taken a hit due to the coronavirus pandemic, but some analysts are starting to see online ad spending pick back up. JP Morgan analysts said they expect Snap's ad revenue recovery to be stronger than Alphabet, Twitter, or Pinterest.$441.6 million estimated
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