(CNBC) Snap reported its first quarterly net profit on Thursday, and beat analyst estimates for the fourth quarter on earnings, revenue and user growth. The report comes a day after Facebook parent Meta delivered disappointing guidance for the first quarter that dragged down several social media stocks with it. Snap fell 23.6% Thursday prior to its own earnings announcement but popped as much as 62% after hours, before settling up about 52%.
Snap shares rocket as much as 62% on first-ever quarterly net profit
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