Shares of Snapchat parent Snap surged 26% in late trading after reporting revenue of $1.95 billion, up 21% from last year. Daily active users reached 422 million, above Wall Street forecasts.
Snap attributes the performance to improvements in its advertising platform and increased demand for direct-response ads. The company struggles to compete with Facebook but has been enhancing its platform over the years.
"The value we provide our community and advertising partners has translated into improved financial performance," said Snap's CEO Evan Spiegel, highlighting the platform's growth and effectiveness for businesses.
[
add
]
[
|
|
...
]