Snap stock jumps as much as 8% as the social media site sees delivering years of hefty revenue growth
Summary List Placement Snap stock bulked up as much 8% Tuesday as the social media company said it has set itself up to deliver years of revenue expansion.
The shares hit an intraday high of $68.70 that also marked a 52-week high for the photos and messaging services app. Volume was heavy, with more than 57 million shares traded intraday compared with a daily average of 20.4 million. The gain was pared to 6.6% in afternoon trading.
"Via the work on our self-serve ad platform, we're in a position to drive multiple years of 50% plus revenue growth," said Peter Sellis, Snap's senior director of ad products, during the company's investors day, according to CNBC .
Snap has been expanding its Ads Manager tools since 2017, with the platform allowing users to create ads and campaigns and gauge goals.
The work has resulted in a self-serve advertisement ecosystem that has driven cost per impression for Snap while driving return on investment for advertisers, Sellis said, according to the report.
"The more advertisers...
The last Posts from Business Insider
- Pete Buttigieg brought star power to the Transportation Department. Insiders explain how he's winning over his new staff, the White House, and Republicans
- Lauren Boebert, who once expressed support for QAnon, accused Democrats of being 'obsessed with conspiracy theories'
- SpaceX has nearly 10,000 employees as it ramps up its Starlink rollout, court documents show
- The great divide: business leaders are split on long-term remote working. This is what Spotify, Twitter, Goldman Sachs, and others have announced so far
- Prominent Georgia family sued their local grocery clerk after she made claims on Facebook about their role in the Capitol riots, report says
- Russian intelligence has reportedly launched a disinformation campaign attacking the Pfizer COVID-19 vaccine
- A Trump appointee who was arrested after participating in the Capitol riot asked a judge if he could be transferred to a cell with no cockroaches
- A Zoho exec explains the benefits of staying private even as the productivity firm competes against public giants like Atlassian and ServiceNow
- Elon Musk lost $27 billion in a rough week for the electric vehicle sector
- British charity worker Nazanin Zaghari-Ratcliffe is released from house arrest but her ordeal at the hands of the Iranian regime is far from over
- An associate of Tony Hsieh has filed further claims against his estate. It follows her previous lawsuits that were filed earlier in 2021
- I saved $13,500 by doing a 'no-spending challenge' for a year, and it helped me dig myself out of debt
- SPACs are booming 'at the expense of retail investors', and regulators should take these 5 steps to fix the market, think tanks say
- If your successes often go unnoticed at work, here are 3 ways to speak up and get credit, according to an HR expert
- You can get paid up to $20,000 just to move. Here are 11 cities and towns offering huge incentives to relocate there
- The $120,000 Audi RS 6 Avant wagon has some of the fanciest light features of any car - check them all out
- Millennial New Yorkers are ditching basements and roommates for luxury apartments at $1,000-plus discounts
- Google launched a $2 million funding programme for Black founders in Europe: 'There is a lot of work to do.'
- A 27-year-old landlord who owns 5 multifamily properties says he bought his first rental by making 3 smart moves
- The stock market's inflation fears are overblown as explosive economic growth is primed to create a perfect 'mix' for more gains, says a Wall Street chief strategist
Russian intelligence trying to undermine confidence in Pfizer COVID-19 vaccine
Russian intelligence agencies have been sharing false and misleading information to undermine confidence in COVID-19 vaccines from Pfizer and other drugmakers, a report said... Read more ...
Another ex-aide calls Cuomo's office conduct inappropriate
Another woman who worked for Gov. Andrew Cuomo is describing conduct she felt was inappropriate for the workplace. Read more ...
46. Aberdeen, South Dakota
Average coarse particulate matter : 14 μg/m^3- Second-highest average coarse particulate matter : 35 μg/m^3 - Average fine particulate matter : 5.9 μg/m^3 Unlike its neighbor... Read more ...
US will strike ‘at a time and place of our choosing' after rocket attacks on...
US Defense Secretary Lloyd Austin won't say who was behind a recent rocket attack on an American airbase in Iraq, but his eyes are on Iran, and he says the US will strike again... Read more ...
Biden to mark 'Bloody Sunday' by signing voting-rights order
WASHINGTON - President Joe Biden plans to sign an executive order directing federal agencies to take a series of steps to promote voting access, a move that comes as... Read more ...
NBA All-Star game to open with chat between Michael B. Jordan, Kamala Harris
The NBA All-Star game will open Sunday with a “special conversation” between award-winning actor Michael B. Jordan and Vice President Kamala Harris. The NBA teased the chat in... Read more ...
How to take advantage of LeBron James' All-Star winning streak
For the fourth straight season, the NBA's best players will meet in an All-Star Game for which two captains have picked the rosters. It's Team LeBron versus Team Durant for... Read more ...
Man pronounced dead after fire at Nashua home, officials say
A man was pronounced dead after a fire at a Nashua home on Saturday night, officials said. Read more ...
Queen reportedly won't stay up to watch Harry and Meghan's Oprah interview
Queen Elizabeth II won't stay up to watch the “circus” of Prince Harry and Meghan Markle's Oprah interview Sunday night - and will instead get a briefing at breakfast Monday... Read more ...
2 more former Cuomo aides accuse governor of inappropriate behavior
ALBANY, N.Y. - Two more former aides to Gov. Andrew Cuomo have accused the third-term Democrat of inappropriate behavior, marking the fourth and fifth women to raise... Read more ...