What is the significance of the modulo operator (%) in the PHP code snippet?

The modulo operator (%) in PHP returns the remainder of a division operation. In the given code snippet, the modulo operator is used to check if a number is even or odd. If the remainder of dividing the number by 2 is 0, then the number is even; otherwise, it is odd.

$number = 10;

if ($number % 2 == 0) {
    echo "The number is even.";
} else {
    echo "The number is odd.";
}