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Snap Inc. (SNAP) Soared To An 8-Month High On Better Than Expected Q4 Results

Snap Inc. (SNAP) reported a fourth quarter adjusted loss of $0.13 per share after the close Tuesday. Street expectations had been for a loss of $0.16 per share. Revenue increased 72 percent to $285.7 million, which topped analysts' expectations of $253.2 million.

Snap gapped up sharply Wednesday and climbed during the first half of the morning. The stock extended its gains around mid-afternoon and closed up by 6.69 at $20.75 on the highest volume of the year. Snap surged to an 8-month high.

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