Snap stock jumps as much as 8% as the social media site sees delivering years of hefty revenue growth

Posted On: Mar 7, 2021   |   Posted By: Business Insider

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...

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