SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Thursday reported a loss of $305.1 million in its first quarter.
The Santa Monica, California-based company said it had a loss of 19 cents per share. Earnings, adjusted for one-time gains and costs, were 3 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The company behind Snapchat posted revenue of $1.19 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $1.12 billion.
For the current quarter ending in June, Snap said it expects revenue in the range of $1.23 billion to $1.25 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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