Facebook, Alphabet, and Snap all closed at all-time highs on Friday.

Facebook gained 5.3 percent, while Google gained 3.37 percent. They will release their second-quarter results in the coming week. Following better-than-expected results from Snap and Twitter, the stocks were riding a wave of surging digital ad sales. Snap's revenue exceeded expectations by more than $100 million, and its stock rose the most, rising 23.9 percent to a record close of $78.02. Twitter rose 3.1 percent to $71.69 after reporting higher-than-expected revenue growth. Advertising revenue was $1.05 billion, up 87 percent from the previous quarter, and exceeded Wall Street expectations of $909.9 million.

It reported 206 million monetizable daily active users (mDAU), matching analyst targets of 205.9 million.