Snap's Blowout Results: A Good Sign for Digital Advertising Companies?
Snap (NYSE: SNAP), parent company of photo- and video-sharing social network Snapchat, absolutely obliterated analyst estimates when it reported its third-quarter results after market close on Tuesday. The news sent shares of the growth stock soaring more than 30% on Wednesday.
While Snap investors should certainly love the update from the social network, the news also bodes well for shareholders of almost any company in the business of digital advertising. Snap's strong performance suggests that advertising spend is likely back in full force.
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Source Fool.com
