Snap: Q1 Earnings Snapshot
SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Thursday reported a loss of $359.6 million in its first quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 22 cents. Losses, adjusted for stock option expense and non-recurring costs, were 2 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The company behind Snapchat posted revenue of $1.06 billion in the period, which met Street forecasts.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNAP at https://www.zacks.com/ap/SNAP