Snap Inc., which owns Snapchat, announced strong first-quarter earnings on Thursday, exceeding analysts' estimates and showing a return to double-digit revenue growth, and the company's shares rose more than 25% in after-hours trading.
According to the company's statement, earnings per share achieved an adjusted 3 cents, compared to expectations of a loss of 5 cents, and revenues amounted to $1.19 billion, compared to $1.12 billion, according to "CNBC."
The number of global daily active users of the app reached 422 million, compared to expectations of 420 million, according to StreetAccount.
Average revenue per user was $2.83 versus $2.67 expected.
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