Snap beats revenue estimates on ad boost from World Cup

Aug 3 : Snap beat Wall Street estimate for second-quarter revenue on Monday, thanks to increased advertising spending during the FIFA World Cup and stronger campaign activity from large advertisers in North America.The social media company's shares jumped 9 per cent in extended trading.Snap's focus on direct response ads, designed to prompt specific actions such as app downloads or website visits, is helping it attract advertisers in a crowded market, where bigger rivals such as Meta Platforms is offering AI-powered tools for better user targeting.The Snapchat parent provides Smart Campaign Solutions, its AI-powered suite of ad tools that automate bidding, budgeting and audience targeting, allowing advertisers to improve results more efficiently. "After several quarters of improving our ad