SNAPCHAT SALES SOAR

SHARES in photo sharing app Snapchat surged 11pc last night after it posted a boost in sales and user numbers.

The technology firm, which is headed up by 28-year-old Evan Spiegel, reported a 39pc jump in sales to £ 247.6m for the three months to March 31, compared with a year earlier.

The number of daily active users of the app also increased, rising by 2pc on the previous three-month period to 190m. However, this is slightly lower than 191m posted a year ago.

The company, which has so far failed to make a profit, said losses narrowed to £ 239.9m in contrast to £298.1m during the same period in 2018.