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“Snap shares soar 23% as company beats on earnings, shows strong revenue growth”

Snap reported first-quarter results on Thursday that beat analysts’ estimates and showed a return to double-digit revenue growth. Shares soared more than 23% in extended trading.  

Here’s how the company did: 

  • Earnings per share: 3 cents adjusted vs. a loss of 5 cents expected by LSEG
  • Revenue: $1.19 billion vs. $1.12 billion expected by LSEG
  • Global daily active users: 422 million vs. 420 million expected, according to StreetAccount
  • Average revenue per user: $2.83 vs. $2.67 expected, according to StreetAccount

Revenue for Snap’s first quarter increased 21% from $989 million in the same period last year. The company is growing at an accelerated clip, after it had previously reported six straight quarters of single-digit growth or sales declines…”

https://www.cnbc.com/2024/04/25/snap-snap-q1-2024-earnings-.html

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