Snap second quarter results lifted by improving advertising trends

Snap Inc (NYSE:SNAP) shares surged 14% following the social media company's second quarter results, after revenue and adjusted earnings came in ahead of Wall Street expectations and the company provided an upbeat outlook for the third quarter. Snap reported revenue of $1.60 billion for the second quarter, above the $1.54 billion analyst consensus, while its net loss of $0.10 per share was narrower than the expected $0.12 loss.