Snap beat on both revenue and earnings per share, marking one of its best earning reports to date. In after hours, Snap shares rocketed up after user growth was also reported as an increase.
Revenue came in at 285.7 million compared to estimates of 253.2 million. Earnings per share came in at $0.13 compared to a significantly lower $-0.16.
In this quarter, Snap added 8.9 million active users to reach a total of 187 million. And when it came to operating expenses, Snap lost $350 million compared to the $440 million they lost last quarter.
The iconic Budweiser Clydesdales will no longer have their tails shortened using a common, yet controversial, procedure that has drawn the ire of animal activists, parent company Anheuser-Busch InBev announced Wednesday.
The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed officials also signaled that they expect to raise rates once more this year.
