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Why Snap Stock Surged Today

TheMotleyFool

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Shares of Snap (NYSE: SNAP) jumped 7.4% on Friday, following the social media company's first-quarter earnings release.

The parent company of Snapchat said its revenue soared 66% year over year to $770 million. The gains were fueled by a 22% increase in daily active users, to 280 million, as more people turned to online entertainment during the coronavirus pandemic.

Investors cheered Snap's impressive first-quarter user and revenue metrics. Image source: Getty Images.

Source Fool.com

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