Snap: Q2 Earnings Snapshot
SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Thursday reported a loss of $422.1 million in its second quarter.
The Santa Monica, California-based company said it had a loss of 26 cents per share. Losses, adjusted for one-time gains and costs, came to 2 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The company behind Snapchat posted revenue of $1.11 billion in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $1.14 billion.