Snap grew its revenue by 44% in the first three months of the year, beating Wall Street targets as its advertising business showed surprising strength amid the coronavirus pandemic.
Snap’s stock jumped 18% after releasing its results for Q1 2020. Snap, the parent company of Snapchat, generated $462 million in revenue in Q1, beating analysts’ expectations of $421 million.
Snap also reported 229 million daily active users, a 20% increase in users year-over-year.
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