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Snap: 4Q Earnings Snapshot

SANTA MONICA, Calif. (AP) _ Snap Inc. (SNAP) on Tuesday reported a loss of $240.7 million in its fourth quarter.

The Santa Monica, California-based company said it had a loss of 17 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 3 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The company behind Snapchat posted revenue of $560.9 million in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $561 million.

For the year, the company reported that its loss narrowed to $1.03 billion, or 75 cents per share. Revenue was reported as $1.72 billion.

For the current quarter ending in April, Snap said it expects revenue in the range of $450 million to $470 million.

Snap shares have climbed 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.99, 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