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SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Tuesday reported a loss of $139.6 million in its first quarter.
The Santa Monica, California-based company said it had a loss of 8 cents per share. Earnings, adjusted for stock option expense, came to 4 cents per share.
The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 4 cents per share.
The company behind Snapchat posted revenue of $1.36 billion in the period, which beat Street forecasts. Twelve analysts surveyed by Zacks expected $1.35 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