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Snap Climbs as First-Quarter Results Beat Expectations


Snap Climbs as First-Quarter Results Beat Expectations
Snapchat s parent narrowed its first-quarter loss as daily active users rose 22% year-over-year to 280 million.
Author:
Snap  (
SNAP) - Get Report beat Wall Street s first-quarter expectations Thursday as the parent of the Snapchat photography-focused app reported a surge in active daily users.
Shares of the Santa Monica, Calif., company at last check were 4% higher at $59.35.
Snap reported a net loss of $287 million, or 19 cents a share, compared with a loss of $306 million, or 21 cents, in the year-earlier quarter. Revenue increased 66% to $770 million.
Analysts surveyed by FactSet were expecting the company to report a loss of 26 cents a share on revenue of $744 million. ....

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