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 Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week: Tupperware, Microsoft, Meta, Alphabet, Royal Caribbean, Alaska Air, Southwest and Ford.
Meta will add new retention 'hooks' to its Threads app.
Biotech firm Biogen agreed to acquire Reata Pharmaceuticals for $6.5 billion.
Gas prices have hit an eight-month high, according to AAA.
A key measure of inflation that the Fed watches closely reached its lowest level in almost two years.
Starbucks' fall menu has reportedly been leaked online.
One of Apple's earliest and rarest products, a pair of sneakers with the early logo, is being auctioned off.
A four-day work week makes employees more happier and efficient, according to a new study.
A new study of Facebook and Instagram has taken a deep dive into how the platforms have shaped peoples' beliefs.
Ford announced it would be slowing its production targets for its electric vehicle line.
