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Snap Tops Forecasts, Jumps More After Hours

Published 2019-04-23, 04:42 p/m
© Reuters.  Snap Tops Forecasts, Jumps More After Hours

Investing.com - Social media company Snap added to regular-session gains post-market after beating analysts’ expectations on the top and bottom lines and on user engagement.

The Snapchat owner reported a loss of 10 cents a share for its first quarter, narrower than expectations of a loss of 22 cents per share, according to forecasts compiled by Investing.com. Revenue of $320.4 million topped expectations of $305.5 million.

The company’s daily active users (DAUs), its chief engagement metric, came in at 190 million, above estimates of about 187 million, according to Briefing.com.

Snap (NYSE:SNAP) shares rose 6.25% in after-hours trading to $12.75.

Shares closed at $12 during regular trading, up about 4% thanks to enthusiasm over Twitter's (NYSE:TWTR) quarterly numbers.

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