4/22, 10:11 PM (Source: TeleTrader)
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Chart for: Snap Inc

Snap's daily active users up 22% to 280 million in Q1

Snap Inc. said on Thursday that the number of its daily active users jumped 22% to 280 million during the first quarter of 2021, topping estimates.

The company added that its revenue surged 66% year on year to $770 million, while net loss stood at $287 million, or $0.19 per share.

"We began 2021 by achieving our highest year-over-year revenue and daily active user growth rates in over three years during the quarter, and delivering positive Free Cash Flow for the first time in Snap’s history as a public company," CEO Evan Spiegel stated.

Snap shares climbed 2.8% in after-hours trading on better-than-expected results.

Breaking the News / NP