Snap posted its first ever quarterly profit. Shares shot up more than 50% after hours.
Snap Inc. posted its first quarterly profit and signaled it is adjusting to disruptions in the digital-advertising market caused by Apple Inc. privacy policy changes that are affecting Facebook parent Meta Platforms Inc.
Snap on Thursday posted a net profit of $22.6 million in the most recent quarter after sales advanced 42% to $1.3 billion from the year-ago period, beating Wall Street expectations.
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