2 months ago
22
Snapchat owner Snap Inc. reported a stronger-than-expected gain in fourth-quarter revenue and gave an upbeat forecast for the current period, a sign that an overhaul of its advertising business is paying off. The shares soared on the news.
Sales rose 14% to $1.56 billion in the period that ended Dec. 31, Snap said Tuesday in a statement. The social media company expects first-quarter sales of as much as $1.36 billion in the current quarter, compared with the average analyst estimate of $1.33 billion.
