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Snap Q1 Daily Active Users Top Forecasts At 280 Million, Up 51 Million From Year Ago; Revenue Pops 66% To $770 Million

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Snapchat parent Snap said daily active users jumped 22% or 51 million last quarter year on year to 280 million.The company said sales rose 66% to nearly $770 million and net losses narrowed to $286 million from $305 million.“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,” said CEO Evan Spiegel. “The strength of our business underscores our relentless focus on product innovation and is a testament to our team’s ability to execute well together over the long term.”The stock, which closed lower in a down day for the market, was up more than 2% in late trading

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