July 21 (Reuters) - Snap Inc (NYSE:SNAP):
* SNAP INC SAYS QUARTERLY GROSS MARGIN WAS 47% VERSUS 46%
* SNAP INC CEO SAYS REVENUE GROWTH RATE CONTINUES TO BE IMPACTED BY ONGOING MARKET DISRUPTIONS - PREPARED REMARKS
* SNAP INC CEO SAYS SEEING STRONG GROWTH IN OUR CORE MARKETS IN NORTH AMERICA, EUROPE, AND AUSTRALIA
* SNAP INC CFO SAYS INITIAL LIFT IN DAUS DUE TO SHELTER IN PLACE CONDITIONS 'DISSIPATED FASTER THAN WE ANTICIPATED' AS CONDITIONS PERSISTED IN QUARTER
* SNAP INC CEO SAYS ADDED MORE THAN 180 NEW DISCOVER CHANNELS THIS QUARTER
* SNAP INC CFO - OPERATING ENVIRONMENT REMAINED CHALLENGING AS COVID-19 IMPACTS MACROECONOMIC CONDITIONS, BUSINESSES OF CO'S ADVERTISING CLIENTS
* SNAP INC CEO SAYS EXPECT THAT CURRENT OPERATING ENVIRONMENT WILL BECOME MORE COMPLEX
* SNAP INC CFO SAYS MANY OF CO'S ADVERTISERS HAVE SEEN INTERRUPTIONS IN THEIR BUSINESSES
* SNAP INC CFO SAYS THUS FAR IN Q3, ESTIMATE YOY REVENUE GROWTH TO BE 32% THROUGH JULY 19
* SNAP INC CFO SAYS BUILT INTERNAL INVESTMENT PLAN BASED ON REVENUE GROWTH OF ABOUT 20% IN Q3
* SNAP INC CFO SAYS ESTIMATES FOR CO'S COST STRUCTURE ASSUME THAT DAUS WILL BE 242 MILLION TO 244 MILLION IN Q3
* SNAP INC CFO SAYS EXPECTS CO'S COMBINED COST OF REVENUE & OPERATING COSTS WILL GROW YOY IN Q3 AT PERCENTAGE RATES IN LOW TO MID-TWENTIES
* SNAP INC CFO SAYS MANY ADVERTISERS PAUSED SPENDING FOR PERIODS OF TIME DURING QUARTER TO SWAP OUT AD CREATIVE FOR MORE APPROPRIATE MESSAGING