Snap shares rocket 28% after company reports unexpected profit, better-than-expected revenue

"I think more broadly, we saw a much more robust brand environment," CFO Derek Andersen said on the earnings call.

Revenue in the first quarter increased 21% to $1.19 billion from $989 million a year earlier, topping analysts' estimates for sales of $1.12 billion, according to LSEG. Snap said adjusted EBITDA "exceeded our expectations" and was primarily driven by operating expense discipline, as well as accelerating revenue growth.

"I think more broadly, we saw a much more robust brand environment, which played out in all of our regions in Q1," CFO Derek Andersen said on the earnings call.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

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