Snap stock soars 58% after posting profit for 1st time

By BARBARA ORTUTAY
AP Technology Writer

Investors are snapping up Snap Inc. after the owner of the disappearing message platform Snapchat surprised Wall Street by reporting a quarterly profit for the first time. The stock jump comes after Facebook parent Meta saw its worst one-day stock price decline in history. It shows that while internet and social media companies are sometimes lumped together by Wall Street, their fortunes often diverge. Shares of Snap rose 58% in after-hours trading. The stock lost nearly 24% in the regular trading session following Meta’s plunge.