Snap: 3Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Tuesday reported a loss of $199.9 million in its third quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 14 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The company behind Snapchat posted revenue of $678.7 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $550.7 million.
Snap shares have climbed 74% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.41, a rise of 95% in the last 12 months.