10/21/2020, 12:13 PM (Source: TeleTrader)
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Chart for: Snap Inc

Snap surges 24% premarket on strong Q3 results

Shares of Snap Inc. jumped by more than 24% in premarket trade after its financial results for the third fiscal quarter topped market expectations.

The company's revenue landed at $679 million in the third semester, soaring 52% compared to the same three-month span last year. Meanwhile, the number of Snap's daily active users surged 18% year-over-year to reach 249 million in the quarter ending September.

Snap gained 24.46% in premarket at 6:18 am ET, trading for $35.41 per share. The California-based camera and social media company's record high at open stood at $28.28 per share, while the all-time high in live trading was at $29.08 per share.

Breaking the News / GA