Watch CNBC's full interview with Snap CEO Evan Spiegel after reporting first-quarter earnings

Описание: Evan Spiegel, CEO of Snap, joins "Squawk Alley" to discuss the company's growth and outlook.

Snapchat maker Snap Inc. impressed investors Tuesday with its still-growing ad revenue in recent weeks amid a broader ad slowdown. But Snap’s strength in a tough time may be attributable in part to the kinds of advertisers that spend on the platform, and that may not be the case for other online companies that rely on ad revenue.

The company’s revenue, which primarily comes from advertising, came in at $462 million for last quarter, up more than 44% from the $320 million the company reported in the first quarter of 2019. Snap’s user base grew to 229 million daily active users, up 20% from last year. That represents the highest year-to-year user growth the company has reported since the second quarter of 2017.

The company said it doesn’t intend to share financial guidance for the second quarter but did say it estimated year-over-year revenue growth to be 15% through April 19 and that the growth rate in the most recent week was 11%.

Snap’s stock was up as much as 27% Wednesday thanks to the strong results.

Social platforms and media businesses have reported big increases in viewership and engagement, but have still seen advertisers pulling out or decreasing spend. Twitter, for instance, pulled its first-quarter guidance in March, citing an impact to ad spend despite a jump in user engagement.

But Snap might be a special case. The company appears to rely more on deep-pocketed, larger advertisers instead of a smattering of millions of small businesses that advertise on other social networks such as Facebook and Google, and it may also rely less on the sectors such as travel whose ad spend is hard-hit. As those types of companies pull back on advertising to weather the coronavirus pandemic, Snap has the advantage and can keep growing thanks to its cohort of advertisers that are in a better position to keep spending.

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