Snapchat turns around user growth, adding 4 million users in Q1

Annlee Ellingson
Snapchat turns around user growth, adding 4 million users in Q1

Snap Inc. shares surged more than 10 percent in after-hours trading as the social media company beat Wall Street expectations for its first-quarter earnings and posted user growth on Snapchat after a couple of quarters of losses last year. Snap ended 2018 with $1.3 billion in cash on hand, yet its free cash flow for the year — including cash used in operating activities plus capital expenditures — was negative $810 million at the end of the year.