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Snapchat CEO Evan Spiegel shifts focus to AI after reviving Ad business

Snapchat CEO Evan Spiegel shifts focus to AI after reviving Ad business
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Snapchat s Spiegel Shifts Focus to AI After Reviving Ad Business

Snapchat s Spiegel Shifts Focus to AI After Reviving Ad Business
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Snap Signals That Ad Revamp Is Finding an Audience; Shares Surge

(Bloomberg) Snap Inc. offered positive signs that its efforts to revamp its digital advertising business are gaining popularity with marketers — boosting revenue and providing stronger competition with powerhouses Google and Meta Platforms Inc. The shares surged more than 20% in extended trading.Most Read from BloombergUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityBig Tech Surges in Late Hours on Blow

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Snap beats first-quarter expectations, shares jump 25%

Snap beats first-quarter expectations, shares jump 25%
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Snap: Snap beats first-quarter expectations, shares jump 25%

Snap exceeded revenue and user growth expectations, with shares spiking 25%. Improved ad system and user interaction drove Q1 revenue to $1.2 billion. Daily Snapchat users increased to 422 million, and Snap introduced a TikTok-like feature, preparing for potential TikTok ban.

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