Jan 31, 2023Updated: Jan 31, 2023 3:35 pm
SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Tuesday reported a loss of $288.5 million in its fourth quarter.
The Santa Monica, California-based company said it had a loss of 18 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 14 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The company behind Snapchat posted revenue of $1.3 billion in the period, matching Street forecasts.
For the year, the company reported a loss of $1.43 billion, or 89 cents per share. Revenue was reported as $4.6 billion.
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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