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SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Tuesday reported fourth-quarter profit of $9.1 million.
The Santa Monica, California-based company said it had net income of 1 cent per share. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The company behind Snapchat posted revenue of $1.56 billion in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $1.55 billion.
For the year, the company reported a loss of $697.9 million, or 42 cents per share. Revenue was reported as $5.36 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