Snap Stock Is Surging Today: What's Going On?
Portfolio Pulse from Adam Eckert
Snap Inc (NYSE:SNAP) shares surged after reporting better-than-expected Q3 results, with revenue and EPS beating estimates. The company saw a 15% revenue increase and 9% growth in daily active users. Snap announced a $500 million buyback program and highlighted its focus on AI and AR initiatives.
October 30, 2024 | 2:59 pm
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Snap Inc shares rose 14.6% after Q3 earnings exceeded expectations, with revenue at $1.373 billion and EPS at 8 cents. The company announced a $500 million buyback and emphasized AI and AR for future growth.
Snap's better-than-expected Q3 results, including a 15% revenue increase and 9% growth in daily active users, positively impacted its stock price. The announcement of a $500 million buyback program and focus on AI and AR initiatives further boosted investor confidence, leading to a 14.6% increase in share price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100