Snapchat’s parent company on Tuesday reported user growth rising 4 percent to 249 million daily active users during the third quarter of the year, up 11 million users from the most recent quarter and ahead of a Wall Street analyst forecast of 244.1 million DAUs.
And the company's stock price soared 17 percent in after hours trading after Snap reported unexpected per-share earnings of 1 cent, after excluding some costs, against an expected loss of 5 cents per-share forecast by Refinitiv.
The year-earlier per-share loss was 4 cents. Snap Inc., which owns the messaging app, saw overall revenue increase 52 percent to $679 million in the third quarter, against a year-earlier $446 million in total revenue.
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