Snap: 4Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Thursday reported a loss of $113.1 million in its fourth quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 8 cents. Earnings, adjusted for stock option expense and amortization costs, were 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The company behind Snapchat posted revenue of $911.3 million in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $847.4 million.
For the year, the company reported that its loss narrowed to $944.8 million, or 65 cents per share. Revenue was reported as $2.51 billion.
For the current quarter ending in April, Snap said it expects revenue in the range of $720 million to $740 million.
Snap shares have risen 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $58.31, more than tripling in the last 12 months.