Snap Inc. (NYSE: SNAP) shares jumped Tuesday after market, as it has reported financial results for the quarter ended June 30, 2018. Snap's net loss decreased 20% to $(353) million in Q2 2018, compared to a net loss of $(443) million in Q2 2017.

“We are excited by the progress we have been making and are optimistic about the opportunities ahead as we continue to invest in innovation,” said Evan Spiegel, Snap CEO and Co-Founder.

The company has also provided more insights to advertisers by launching three new initiatives for campaign planning and analysis. Audience Insights help advertisers understand characteristics about Snap’s audience, which they can now better target with our Advanced Location Targeting, including location categories and point + radius, and then better understand their performance with Delivery Insights.

Snaps outlook for the third quarter of 2018 includes:Revenue is expected to be between $265 million and $290 million, growth of between 27% and 39% compared to Q3 2017. Adjusted EBITDA loss is expected to be between $(185) million and $(160) million, compared to $(179) million in Q3 2017.