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Snap's Stock Hits Record High After Projecting 50% Annual Revenue Growth

12 days ago   |   By The Wrap

Snap's stock price surged to a new all-time high on Tuesday after the Snapchat parent company told shareholders it expects sales to increase 50% a year for multiple years thanks to its maturing ad business.
“Via the work on our self-serve ad platform, we're in a position to drive multiple years of 50% plus revenue growth,” Peter Sellis, Snap's senior director of ad products, said during the company's first-ever investor day.
Up to that point, Snap's stock was down about 7% on the day, hovering near $58 per share. Investors clearly loved the aggressive sales projection, though, because...
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