NewsHK
The digital advertising market has been testing investors' patience.
Snap broke from a difficult pattern in the sector with a second-quarter earnings report that beat analysts' estimates across every line, and paired the results with a strong sales forecast.
The result and what it signals Snap's second-quarter report came in ahead of expectations on every measure. The sales forecast amplified the market's reaction.
A clean earnings beat paired with positive forward guidance tends to command a larger move than the quarterly result alone, and investors responded quickly.
Keep reading