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Communications Services Up After Snap, Twitter Earnings -- Communications Services Roundup

07/23/2021 | 05:18pm EDT

Communications services companies rallied after strong earnings.

Shares of Snapchat owner Snap rose by roughly one quarter in value after surprisingly strong revenue growth, driven by digital advertising sales. Rival Twitter shares rose as it, too, benefited from strong ad sales.

Shares of Vodafone rose after the British carrier posted better-than-anticipated earnings.

AT&T said its core telecommunications profits are growing even as its Hollywood footprint is about to shrink, underscoring its decision to leave the entertainment business over the coming year.

Chinese telecom-services giant Huawei Technologies hired veteran Democratic lobbyist Tony Podesta as part of the Chinese company's expanded U.S. influence operation, The Wall Street Journal reported.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

07-23-21 1717ET

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