Snap Stock Approaches IPO Price In After-Hours Trading As Revenue Tops Forecasts

Snap’s revenue surpassed Wall Street’s forecasts for its December quarter, sending the stock soaring toward its initial public offering price in after-hours trading.
Fourth quarter revenue reached $285.7 million, exceeding the analyst consensus forecasts of $252.95 million. The stock popped on the news — rising nearly 20% from the day’s closing price of $14.06 to $16.82 a share after the market’s close. At one point in trading, Snap’s stock cracked the IPO price of $17 a…

Snap’s revenue surpassed Wall Street’s forecasts for its December quarter, sending the stock soaring toward its initial public offering price in after-hours trading. Fourth quarter revenue reached $285.7 million, exceeding the analyst consensus forecasts of $252.95 million. The stock popped on the news — rising nearly 20% from the day’s closing price of $14.06 to¬†$16.82 a share after the market’s close. At one point in trading, Snap’s stock cracked the IPO price of $17 a…