Snap beats user, revenue estimates with highest growth in 4 years

Snap Inc on Thursday beat Wall Street estimates for users and revenue in the second quarter, notching the highest growth rates since late 2017 as new features on its messaging app Snapchat attracted more users.

Shares of Santa Monica, California-based Snap rose about 10% to $69.20 in extended trading, after its forecast for the current quarter also came in above expectations.

Snapchat, known for its Stories feature that lets users post updates that disappear after 24 hours, has grown its app into five parts spanning media content and viral short-form video clips to keep users engaged and draw in more advertisers.