Snapchat shares rocket 50% as company touts iOS privacy change recoveryShares climbed as high as 62% in pre-market...
What you need to know
Snapchat says that it has overcome Apple's privacy changes in iOS faster than it anticipated.
The company's share price fell by 23% following news that Facebook was struggling with the iOS 14 App Tracking Transparency overhaul.
Snapchat's more positive outlook has sent shares soaring 50%.
Snapchat's share price is up almost 50% and has climbed to as high as 62% in pre-market trading after the company revealed it had overcome Apple's iOS 14 tracking changes quicker than anticipated.
As noted by CNBC:
Snap reported its first quarterly net profit on Thursday, and beat analyst estimates for the fourth quarter on earnings, revenue, and user growth.
The report comes a day after Facebook parent Meta delivered disappointing guidance for the first quarter that dragged down several social media stocks with it. Snap fell 23.6% Thursday prior to its own earnings announcement but popped as much as 62% after hour...
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Snapchat shares rocket 50% as company touts iOS privacy change recovery
