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.

Share:
More In Business
Can AI and ChatGPT Replace Jobs?
Will AI and ChatGPT replace jobs in the future? Cheddar News takes a closer look at its capabilities and what jobs the technology could potentially replace.
Need2Know: February 6, 2023
Thousands killed in Turkey earthquake, Ohio train derailment danger, and Europe bans Russian diesel imports. Here is everything you Need2Know for Monday, February 6, 2023.
Load More