Snap's 2024 user target surpasses Wall St expectations, shares soar.

Snap shares surged 11% after a leaked internal memo revealed that the company is projected to have over 475 million daily active users (DAUs) by 2024, surpassing Wall Street's expectations. The report also stated that Snap anticipates advertising revenue to grow more than 20% in 2024, exceeding estimates of 14% growth. Despite facing tough competition and a weak advertising market, Snap's higher-than-expected user numbers and revenue projections provided a boost to investor confidence.