Snap Signals Ad Revamp Is Finding an Audience; Shares Surge
- Company projects quarterly sales will gain as much as 18%
- Snapchat app daily active users rose 10% to 422 million
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Snap Inc. offered positive signs that its efforts to revamp its digital advertising business are gaining popularity with marketers — boosting revenue and providing stronger competition with powerhouses Google and Meta Platforms Inc. The shares surged the most in more than two years on Friday morning.
Sales will jump as much as 18% to $1.26 billion in the period ending in June, the company said Thursday in a statement. Analysts, on average, projected $1.21 billion.