Shares of Snap (NYSE: SNAP) jumped 9% on Friday following the release of the social media company's solid fourth-quarter results.
The parent company of Snapchat saw its daily active users climb 22% to 265 million. Snap's revenue, in turn, leaped 62% to $911 million. That was well ahead of the $857.4 million in revenue Wall Street had expected.
"Our team has worked tirelessly to help people stay close with their friends and family even while they are physically apart, and we're proud of the strong results we delivered for our advertising partners this quarter and over the full year," CEO Evan Spiegel said in a press release.
Source Fool.com