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Snap: 3Q Earnings Snapshot

SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Tuesday reported a loss of $227.4 million in its third quarter.

The Santa Monica, California-based company said it had a loss of 16 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 4 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The company behind Snapchat posted revenue of $446.2 million in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $437.6 million.

For the current quarter ending in December, Snap said it expects revenue in the range of $540 million to $560 million.

Snap shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.01, more than doubling in the last 12 months.


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