Revenue, which Snap earns mainly from selling ads on the app, jumped 52% to $679 million, widely beating analysts’ consensus estimate of $555.9 million. It opened an opportunity for Snap as companies reviewed their ad spending, and helped contribute to revenue growth, said Jeremi Gorman, Snap’s chief business officer, in prepared remarks for an earnings call with analysts. Snap said current-quarter revenue could grow between 47% to 50% over the year-ago period, but cautioned that it was unclear how the pandemic would affect year-end holiday advertising. …read more
Source:: Yahoo Finance
