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Snap stock surges on positive Q2 forecast

Julie Hyman and Jared Blikre

Shares of Snap (SNAP) are surging in after-hours trading. The company reported its first quarter results, revealing a revenue of $1.19 billion for the quarter, a gain of 21% year-over-year, versus an estimated $1.12 billion. Adjusted earnings per share of $0.03 was much better than the $0.05 loss Wall Street was expecting.

The company also reported a total of 422 million active daily users for the quarter, a 10% gain year-over-year.

In addition, Snap posted an upbeat forecast for the second quarter, placing revenue between $1.23 billion to $1.26 billion, topping estimates of $1.21 billion.

Yahoo Finance's Julie Hyman and Jared Blikre break down Snap's quarterly results.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Nicholas Jacobino