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Snap Stock Soars On Strong Q1 Revenue & Outlook As Daily Active Users Hit 422 Million
Snap revenue jumped more than anticipated and daily actives users hit 422 million for the March quarter, driving the shares up 26% after hours.
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. “Our large, growing, and hard-to-reach community, brand-safe environment, and full-funnel advertising solutions have made us an increasingly important partner for businesses of all sizes.”
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