Why Is Snap (SNAP) Stock Rocketing Higher Today [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
beating expectations, driven by better-than-expected daily active users. Its revenue growth and higher operational efficiency also enabled it to post positive EBITDA and free cash flow, beating Wall Street's pessimistic estimates. The company noted strong momentum in its Snap Star program, which seeks to bring social media influencers into its platform to drive engagement. This helped contribute to a tripling of Snapchat+ subscribers and 125% year-on-year growth in total time spent watching Snapchat Spotlight content. The number of small- and medium-sized businesses advertising on Snapchat also grew 85% year on year. Lastly, next quarter's revenue, EBITDA, and daily active users guidance surpassed estimates. It expects to have 431 million daily active users. Overall, this was a strong quarter that should satisfy shareholders. Is now the time to buy Snap? Access our full analysis report here, it's free What is the market telling us: Snap's shares are somewhat volatile and ove
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