Shares of Snapchat parent Snap popped 26% in late trading after the social media network said revenue jumped more than expected last quarter to $1.95 billion, up 21% from 2023.
The number, and the outlook for the current quarter were nicely above Wall Street forecasts, as were daily active users, which hit 422 million.
Snap shares tend to be volatile — up or down — in response to quarterly earnings and today is no exception. The company said the upbeat number was driven by improvements in its advertising platform and an increase in demand for its direct-response advertising offerings.
The company has hard a hard time competing with giants Facebook and has been working on its platform for years. Snapchat+ grew to more than 9 million subscribers in Q1.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.