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Snap Quarterly Earnings Blow Past Estimates As Revenue More Than Doubles

Snap (SNAP) reported second-quarter results late Thursday that toppled estimates as revenue more than doubled. Snap stock jumped.




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The social networking company reported adjusted earnings of 10 cents on revenue of $982 million. Analysts expected Snap to report a loss of 1 cent on revenue of $845 million. Revenue jumped 116% from the year-ago period.

Snap stock soared 13%, near 71.25, during after-hours trading on the stock market today.

The IBD Stock Checkup tool shows that Snap has an IBD Composite Rating of 96 out of a best-possible 99. For more analysis on Snap stock visit Leaderboard.

Based in the Los Angeles suburb of Santa Monica, Calif., Snap is the owner of Snapchat. It’s a smartphone app that can manipulate and enhance images and videos in numerous ways, which can then be sent to other Snapchat users. It also has an expanding lineup of video content and games and is popular with the under-30 crowd.

More to follow.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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