Here's Why Snap Stock Soared Today
Snap(SNAP) The Motley Fool·2024-10-31 02:17
The company grew its revenue and reduced its losses.Shares of Snapchat's parent company, Snap (SNAP 16.02%), soared on Wednesday after the company reported financial results for the third quarter of 2024. User growth and revenue trends are strong and encouraging. And that's why Snap stock was up 14% as of 1:15 p.m. ET.Good growth and improved cash flow excite investorsSnap ended Q3 with an astounding 443 million daily active users, which was a 9% jump from the same quarter of 2023. On top of this user growt ...