Snap reports upbeat fourth-quarter revenue as holiday season boosts ad spending
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Snap beat Wall Street estimates for fourth-quarter revenue, as more advertisers turned to the social media platform during the holiday season, sending its shares up nearly 6% in extended trading. The Snapchat-parent said total active advertisers on the platform rose 28% in the fourth quarter, underscoring strength in direct response ads and growth in new ad formats such as Sponsored Snaps and Promoted Places. The results calm investor jitters as advertisers increasingly rely on platforms such as Meta and TikTok, which are preferred due to their larger user base.
📄 Summary
Snap beat Wall Street estimates for fourth-quarter revenue, as more advertisers turned to the social media platform during the holiday season, sending its shares up nearly 6% in extended trading. The Snapchat-parent said total active advertisers on the platform rose 28% in the fourth quarter, underscoring strength in direct response ads and growth in new ad formats such as Sponsored Snaps and Promoted Places. The results calm investor jitters as advertisers increasingly rely on platforms such as Meta and TikTok, which are preferred due to their larger user base.