Snap Reverses Slide as User Growth and Revenue Jump - The New York Times

Spiking ... back to its IPO price

"However fast Snap is growing, it still has the world to conquer. EMarketer, a research firm, estimated that the company will generate $1.47 billion in net worldwide ad revenue this year, up 90 percent over 2017. That will give Snap less than 1 percent of the worldwide digital ad market.

Snap, based in Venice, Calif., may be benefiting from troubles at its much larger rival, Facebook. Under pressure from multiple sides, Facebook said last week it had made changes that reduced the hours its two billion users were spending on its pages.

Snap shares closed Tuesday during regular trading at $14.06. Even with the spike from the earnings, shares are about $17, which was the initial offering price last March. In its early days, the Snap platform was dismissed as a fad for teens. That criticism has been tempered, but there are still many doubters."

Snap Reverses Slide as User Growth and Revenue Jump - The New York Times