SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Tuesday reported a loss of $262.6 million in its second quarter.
The Santa Monica, California-based company said it had a loss of 16 cents per share. Losses, adjusted for stock option expense, were 1 cent per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The company behind Snapchat posted revenue of $1.34 billion in the period, which met Street forecasts.
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