SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Tuesday reported a loss of $377.3 million in its second quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 24 cents. Losses, adjusted for one-time gains and costs, were 2 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The company behind Snapchat posted revenue of $1.07 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $1.05 billion.
For the current quarter ending in September, Snap said it expects revenue in the range of $1.07 billion to $1.13 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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