Snap Inc. | North America Strong 2Q Results, Durability Needed with Specs in Sight SNAP's strong 2Q was propelled by stable North America DAUs and upside on both ad and subscription revenue. In isolation, they continue to lag the digital ad market and we need clarity on durability of growth, particularly given the Specs investment incoming. Remain EW, $7.00 PT. 2Q Beat Driven by Ads/Subscription, Durability of Growth Needed to Re-rate: SNAP delivered faster than expected advertising and subscription revenue ...