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.
Elon Musk has taken the stand Friday in a shareholder trial in California centering on a 2018 tweet that the billionaire sent about taking Tesla private and the funding secured to do so.
Google parent Alphabet reported quarterly results just shy of Wall Street estimates as the tech giant announced layoffs of about 12,000 workers. Cheddar News breaks down the latest numbers.
A rough week on Wall Street dominated by worries about a weakening economy ended Friday with a broad rally that gave the market its best day in two weeks.
Proctor & Gamble, the parent company of many of your go-to cleaning supplies like Cascade, Tide, and Swiffer, among others, is set to hike the prices on many of its goods.
