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Snap Rises After Reporting User Growth Ahead of Estimates

Bloomberg business news
Snap Reports Better-Than-Expected User Growth
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Snap Inc. reported user growth that beat analysts’ estimates, sending shares up in after-market trading.

The Snapchat app, popular with young people for sending disappearing messages and augmenting videos with special effects, drew 332 million daily active users, 18% more than in the same period last year, compared to the 330.5 million estimate, with growth primarily coming overseas. That stands in contrast to its biggest competitor, Meta Platforms Inc., where growth has stagnated.