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Snap: Q2 Earnings Snapshot

Associated Press Finance
·1 min read

SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Thursday reported a loss of $248.6 million in its second quarter.

The Santa Monica, California-based company said it had a loss of 15 cents per share. Earnings, adjusted for one-time gains and costs, were 2 cents per share.

The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 2 cents per share.

The company behind Snapchat posted revenue of $1.24 billion in the period, which did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $1.25 billion.

For the current quarter ending in September, Snap said it expects revenue in the range of $1.34 billion to $1.38 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