Snap hits a record on a wow-worthy quarter (it got its Facebook revenge)

Who didn't get corona-ghosted last quarter... Snap stock soared ~30% to an all-time high after the little ghost reported expectation-smashing earnings. You probably noticed more ads appearing every 5 seconds as you tried to watch “Kylie sizzles on Capri beach” and "Oddly Satisfying."

• Sales shot up 52% as advertisers started spending again, compared to growth of 17% in the previous quarter.
• Daily users grew 18% to 249M — that's equivalent to 75% of the US population.
• Snap's loss shrank 12%, but the 9-year-old company still isn't profitable.

Zucking revenge... Snap's growth slowed big time after Facebook's Instagram copied its game-changing Stories back in 2016. But last quarter, Snap profited off FB's misfortune: earnings were boosted by the FB ad boycott, as marketers shifted spend to Snap. Also: since TikTok was banned in India, Snap more than doubled its users in the world's 2nd most populous country.

• Snap has done a lot this year, launching new features from Mini apps to TikTok rivaling Sounds to the (in)famous anime filter.
• There’s a lot you can do on Snap now besides sending double chin pics, from meditating with Headspace to Shazaming songs to identifying plant species.