Snap (SNAP) reported second quarter adjusted earnings of $0.02 per share, which was in line with estimates. Revenue was just shy of the Street's expectations $1.24 billion versus an estimates $1.25 billion. Daily active users were 432 million, slightly better than the expected 431.17 million.

For Q3, Snap sees adjusted EBITDA in a range of $70 million to $100 million, which is short of the Bloomberg consensus estimate of $110.5 million.

Morning Brief anchor Brad Smith breaks down the social media company's results in the video above.

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This post was written by Stephanie Mikulich.