Losses, adjusted for stock option expense and amortization costs, came to 14 cents per share.
Advertising revenue is up 48 percent year-over-year as well, making the platform all the more enticing to the potential advertiser.
"It gives an incredible opportunity for advertisers to come and win on our platform", Chief Strategy Officer Imran Khan told analysts on a webcast on Tuesday.
That's despite a drop in active users-a first for the company. That 188 million daily active user number is 8 percent higher than this time a year ago, and CFO Tim Stone said that monthly active users are now up to 100 million in U.S. and Canada.
Spiegel said Snapchat's drop in daily users "was primarily driven by a slightly lower frequency of use among our user base due to the disruption caused by our redesign".
Snap has been redesigning its app to encourage users to interact with more of its ad-supported videos. Despite the decline in active monthly users, Snapchat saw its revenues jump to $262.3 million, up by 44 percent from the same quarter past year.
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The Average Revenue per User is a full ten cents above estimate, at $1.40.
For the current quarter ending in October, Snap said it expects revenue in the range of $265 million to $290 million.
The deal comes as Snap posted second-quarter earnings on Tuesday that showed Snapchat had lost users.
The company cautioned that usage tends to slow in the third quarter, but did not make a specific forecast. Both companies shed some 19 percent in market value after reporting. It will be interesting to see if this trend of desiring privacy in the modern era will continue, or if Facebook and Twitter are just waiting to pounce.
Snapchat ended the quarter with an average of 188 million daily active users, compared to 191 million at the end of Q1. It is also an increase of 13.6pc on the results from Q1 2018.
Employees had griped about Snap's network of small, spread out offices in Venice.