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Snap: 4Q Earnings Snapshot

February 4, 2021 GMT

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.

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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.

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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