(Reuters) -Shares in Snap jumped nearly 25% in on Friday after targeted ads and new features helped the owner of the photo messaging app beat Wall Street expectations for first-quarter revenue and user growth.

Snap’s share surged 21% in after-hours trading as app’s users increased by 422 million, bringing in $1.2bn in revenue

Snapchat posted its Q1 2024 earnings results to its investor relations website. The company reported $1.2 billion in revenue against an expectation of $1.1 billion. In terms of earnings per share (EPS), Snapchat posted a surprise $0.03 profit against expectations of a $0.05 loss, and an EPS whisper number of $0.01 loss.

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.

Shares of Snap Inc. rocketed higher after hours on Thursday after the social-media platform forecast second-quarter sales that were better than expected, as it attracts more users and tries to strengthen its advertising business.

Shares in Snap Inc. soared by more than 20% in late trading today after the company reported revenue and earnings beats in its first quarter and projected a higher-than-expected outlook for its second quarter.

Snap (NYSE:SNAP) has issued a positive revenue forecast for the second quarter, projecting between $1.23 billion and $1.26 billion, which surpasses the consensus estimate of $1.14 billion. The social media company expects adjusted EBITDA to