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VENICE — Snap Inc. on Tuesday reported a loss of $350 million in its fourth quarter.
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VENICE — Snap Inc. on Tuesday reported a loss of $350 million in its fourth quarter.
On a per-share basis, the Venice-based company said it had a loss of 28 cents. Losses, adjusted for one-time gains and costs, were 13 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 15 cents per share.
The company behind Snapchat posted revenue of $285.7 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $251.7 million.
For the year, the company reported a loss of $3.45 billion, or $2.95 per share. Revenue was reported as $824.9 million.
Snap shares have fallen nearly 4 percent since the beginning of the year.
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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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Dirk van Ulden said:
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