Snap shares pop after revenue tops expectations [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
"The value we provide our community and advertising partners has translated into improved financial performance," Snap chief executive Evan Spiegel said in an earnings release. Snap reported revenue of $1.2 billion compared with $989 million in the same period a year earlier. The Southern California-based tech firm said it trimmed its loss to $305 million compared with a loss of $329 million in the year-ago quarter. The number of small and medium sized advertisers on Snapchat increased 85 percent in a similar comparison, while an average of 422 million people used the app daily in an increase of 10 percent from the first three months of 2023, according to earnings figures. Snapchat+, the company's AI-amped subscription service, reached more than nine million subscribers. "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," Spiegel said. S
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- 5/3/24 - Form 144
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- 5/2/24 - Form PX14A6G
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