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Snap Stock Up 16% as Q2 2021 Earnings Beat Analyst Expectations
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Snap Pops More Than 16% on Earnings Beat and User Growth
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Snap Pops More Than 13% on Earnings Beat and User Growth
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Snap shares hit record on bullish sales forecast
“It is augmented reality that is driving our future,” Snap Chief Executive Evan Spiegel says.
(Jae C. Hong/ Associated Press)
By Naomi Nix
Print
Snap Inc. shares jumped to a record, reversing an earlier decline Tuesday, after the social media company forecast revenue growth of 50% or more for several years, buoyed by investments in more engaging advertising and innovations in augmented reality.
The company, parent of the Snapchat app, is “in a position to drive multiple years of 50%-plus revenue growth,” Peter Sellis, senior product director, said in a presentation Tuesday at Snap’s first investor day. At the event, executives outlined a vision for how the Santa Monica company will boost its audience while maintaining user privacy and trust.