Snap Inc. shareholders are enjoying a nice Wednesday morning, with the Snapchat parent company’s stock jumping 15% following a strong Q3 report and the announcement of a share buyback plan.
The Los Angeles-based company’s stock hit $12.54 per share about two hours into trading on Wednesday. Snap’s increase is a welcome sight for longterm shareholders, considering the stock is still down about 22% since the start of 2024.
Snap’s big morning comes a day after it reported adding 11 million daily users during the third quarter, pushing Snapchat to 443 million daily users overall. Analysts had expected the company to report about 441 million daily users, per Yahoo
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