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The Guardian - US
The Guardian - US
Business
Guardian staff and agencies

Snapchat parent company sees shares surge as improved ad system pays off

SNAP Snapchat Evan Spiegel United States
a man waves in front of a ghost logo
Snap’s CEO, Evan Spiegel, in Santa Monica, California, on 19 April 2023. Photograph: Joe Scarnici/Getty Images for Snap, Inc.

Shares in the owner of Snapchat surged 21% during after-hours trading after the social media group beat Wall Street’s expectations for quarterly revenue and user growth.

Improvements to Snap’s advertising system are delivering results faster than anticipated, the company said.

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