Snap (NYSE: SNAP) share price rose 56% after-hours following the company’s Q4 results, with EPS coming in at $0.22, beating the consensus estimate of $0.10. Revenue increased 42% year-over-year to $1.3 billion, compared to the consensus estimate of $1.2 billion. DAUs increased 20% to 319 million in Q4.

The extreme move in the stock is being witnessed as investors sold shares off 24% Thursday, before the results, on the back of disappointing results from rival Meta (Facebook).

The company provided its Q1 outlook, expecting revenue in the range of $1,030-$1,080 million, compared to the consensus estimate of $1.02 billion. Adjusted EBITDA is expected to be approximately breakeven.