Snap Inc. stock skyrockets after beating earnings
Snap Inc. beat on earnings and revenue Tuesday, surprising Wall Street investors that had modest expectations for the camera company. It also saw an increase in user growth after posting slowed growth over the past four quarters.
Why it matters: Snapchat faced a difficult first year as a public company, missing growth expectations as it faced competition from Instagram and Facebook. Tuesday's success, as seen by Snap's stock gains, is reviving investor confidence in the company.