Snap's shares soared more than 25% in after-hours trading on Tuesday after the company beat Wall Street's estimates for revenue and earnings for the fourth quarter and exceeded expectations for user growth. Snap has made spending easier on its self-service advertising system, which accounted for 90% of ad impressions in the fourth quarter. However, the app's growth beat analysts' expectations in the fourth quarter. Facebook-owned Instagram now has more daily users than Snapchat (Instagram's Stories feature alone has 300 million daily users), while Facebook's main app has grown to more than 2.1 billion monthly users. Like Snap, Facebook is also pushing aggressively into video and augmented reality.

Source: Forbes February 06, 2018 21:44 UTC