Snap’s earnings sent its stock up more than 20 percent, but user growth remains a real concern

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Snap finally had a good day. You might even call it a great day.

That’s because, after a tough year in which Snap execs and investors watched the company’s stock price slowly bleed out because of government investigations, executive departures, and product issues, Snap reported better-than-expected earnings on Tuesday that shot the stock up more than 22 percent in after-hours trading.

The main reason: Snap’s business last quarter was stronger than anyone thought. Sales were up to a record $390 million, a 36 percent jump over the same quarter a year ago. And Snap is slowly moving toward profitability, a goal that CEO Evan Spiegel shared internally with Snap employees last year.

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