- Thousands rally in Georgia amid new criticism of 'foreign influence' law
- What we know about Slovak PM assassination attempt
- ICC 'excited' as cricket's newest stadium launched in New York
- Danish museum settles dispute with artist over missing cash
- Biden, Trump agree to election debates in June, September
- Milan claims Giro stage double as Pogacar retains lead
- Stock markets set records, dollar slides as US inflation cools
- Putin heads to Beijing seeking greater support for war effort
- Israel PM says no humanitarian crisis as hundreds of thousands flee Rafah
- Number of children fleeing Latin America soars: UN
- Dutch parties reach deal to form government coalition: Wilders
- Aberg will wear knee brace but Masters runner-up ready for PGA
- 'Best ever' tennis takes outsider Tabilo to Rome Open semis
- Slovak PM suffers life-threatening wounds in assassination attempt
- Meryl Streep on hippos, sex scenes and almost losing her Oscar
- US drug deaths decline, hinting at progress against opioid crisis
- Second stage win for Milan as Pogacar retains lead in Giro d'Italia
- Dutch parties reach coalition deal: Wilders
- Outsider Tabilo makes Rome Open semis, Sabalenka breezes into last four
- Slovakia PM suffers life-threatening wounds in assassination attempt: govt
- French police hunt killers in prison van ambush
- Charismatic cleric turns protest firebrand in Armenia
- How hunting may have turned humans into long-distance runners
- Slovakia PM shot, fighting 'life-threatening' injuries
- Stock markets rise as US inflation cools
- Kenyan football, athletics, disrupted by stadium closures
- US drug overdose deaths fell for first time since 2018: data
- Head injury charity criticises Ederson substitution delay
- UEFA tells Man City's owners to reduce stake in Champions League-bound Girona
- US consumer inflation eases slightly in April, in good news for Biden
- Van der Poel opts for road race at Olympics ahead of mountain bikes
- State of emergency set for France's New Caledonia after deadly riots
- Putin hails Russian advances, Blinken unveils aid in Kyiv
- Ireland to recognise Palestinian statehood 'this month': minister
- Swiss court jails Gambian ex-minister for crimes against humanity
- Sabalenka breezes past Ostapenko and into Rome Open semis
- German travel giant says takes overtourism 'very seriously'
- Lea Seydoux: 'I've witnessed the changes on set since #MeToo'
- Semenya hopes 'important day' at European rights court paves way for non-discrimination
- Taylor Swift tour hands UK economy £1 bn boost: study
- Queen Camilla pledges not to buy new fur, say activists
- Guitar-playing Blinken sparks criticism in Ukraine
- Stocks waver before US inflation but London hits record
- Western allies denounce Georgia 'foreign influence' law
- Palestinians flee Gaza battles on anniversary of 1948 'Nakba'
- Semenya faces 'important day' at European rights court
- Haaland tells Man City to 'relax' ahead of title race finale
- Raw sewage pumped into England's largest lake due to fault
- Albon signs new multi-year F1 contract with Williams
- French police hunt killers behind prison van ambush
Snap shares pop after revenue tops expectations
Shares in social media company Snap, which runs the youth-focused Snapchat, soared nearly 25 percent on Thursday after it reported more quarterly revenue than expected by analysts.
"The value we provide our community and advertising partners has translated into improved financial performance," Snap chief executive Evan Spiegel said in an earnings release.
Snap reported revenue of $1.2 billion compared with $989 million in the same period a year earlier.
The Southern California-based tech firm said it trimmed its loss to $305 million compared with a loss of $329 million in the year-ago quarter.
The number of small and medium sized advertisers on Snapchat increased 85 percent in a similar comparison, while an average of 422 million people used the app daily in an increase of 10 percent from the first three months of 2023, according to earnings figures.
Snapchat+, the company's AI-amped subscription service, reached more than nine million subscribers.
"Our large, growing, and hard-to-reach community, brand-safe environment, and full-funnel advertising solutions have made us an increasingly important partner for businesses of all sizes," Spiegel said.
Snap shares were up more than 24 percent to $14.20 in after-market trades.
In recent years, the company has been at pains to compete for ad revenue against Meta's Instagram, Google-owned YouTube and TikTok.
After its launch in 2011, Snapchat became a hit, particularly with young smartphone users, by letting people share photos or videos in messages that self-destruct after being viewed.
It also innovated with the use of filters for shared content, but an expansion into hardware such as drones and eyeglasses has failed to gain traction.
Early this year Snap said it was letting go of ten percent of its staff, including members of its senior management team, "to reduce hierarchy and promote in-person collaboration."
F.Müller--BTB