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.
Stocks opened lower on Friday after the latest inflation report came in hotter than expected.
Amazon is cutting some of its private label in-house brands in a bid to cut costs.
Lyft said it plans to end surge pricing.
Target is turning to Starbucks and adding them to curbside pickup in a bid to jolt sales.
Automaker Stellantis revealed plans to unveil another Fiat electric vehicle.
A new report showed that new car prices are starting to cool off.
Senior citizens who receive social security benefits could see a much smaller raise in 2024.
The U.S. natural gas market is showing no signs of slowing, thanks to the recent hot weather.
Gas prices are still elevated, according to a new report from AAA.
Peacock is seeing big success from its original series, 'Twisted Metal.'
