Stock Alert: Snap Shares Soar 20% After Hours On Strong Revenue Growth

(RTTNews) - Shares of Snap Inc. (SNAP) were up over 20% after-hours on April 21, following the company's strong Q1 revenue growth and daily user gains.

The company reported Q1 net loss of $305.9 million or $0.21 per share, narrower than the prior year's loss of $310.4 million or $0.23 per share.

On a non-GAAP basis, net loss was $0.08 per share versus a loss of $0.10 per share incurred a year ago.

Revenue for the quarter grew 44% to $462.5 million from $320.4 million generated in the same period of last year.

Daily Active Users or DAUs were 229 million in Q1 2020, an increase of 39 million or 20% year-over-year.

The stock has been trading between $7.89 - $19.75 in the past one year, and closed Tuesday's regular trade at $12.44, down 48 cents or 3.72%. SNAP gained $2.55 or 20.50% in the after-hours trading session.