Snap shares jump as leaked 2024 user target exceed Wall Street expectations

Social media company is expected to have more than 475 million daily active users

) shares jumped 11% on Monday after a media report said the social media company is expected to have more than 475 million daily active users in 2024, above Wall Street expectations.

The higher-than-expected DAUs come as a relief for the Snapchat parent that has been struggling with tough competition and a weak advertising market. Snap was the first ad-reliant social media firm to flag a demand downturn last year as brands cut budgets amid red-hot inflation and high interest rates.

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