- October 21, 2020
- Posted by: Stratford Team
- Category: Markets
(RTTNews) – Shares of Snap Inc. (SNAP) are rising more than 25% Wednesday morning after reporting third-quarter earnings and revenue better than the Street view. The stock touched a new high of $36.36 this morning.
The company reported third-quarter earnings on adjusted basis of $0.01 per share compared with loss per share of $0.04 in the same quarter a year ago. On average, 27 analysts polled by Thomson Reuters expected the company to report loss of $0.05 per share.
Revenue for the quarter increased 52% to year-over-year to $679 million. The consensus estimate was for $549.99 million.