SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Wednesday reported fourth-quarter profit of $45.2 million.
On a per-share basis, the Santa Monica, California-based company said it had profit of 3 cents. Earnings, adjusted for stock option expense, were 18 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The company behind Snapchat posted revenue of $1.72 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $1.7 billion.
For the year, the company reported a loss of $460.5 million, or 27 cents per share. Revenue was reported as $5.93 billion.
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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
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