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Snap: 2Q Earnings Snapshot

July 23, 2019

SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Tuesday reported a loss of $255.2 million in its second quarter.

On a per-share basis, the Santa Monica, California-based company said it had a loss of 19 cents. Losses, adjusted for one-time gains and costs, were 6 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The company behind Snapchat posted revenue of $388 million in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $358.5 million.

For the current quarter ending in October, Snap said it expects revenue in the range of $410 million to $435 million.

Snap shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.87, a climb of 11% in the last 12 months.

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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

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