SANTA MONICA, Calif. (AP) 鈥� SANTA MONICA, Calif. (AP) 鈥� Snap Inc. (SNAP) on Monday reported a loss of $164 million in its second quarter.
The Santa Monica, California-based company said it had a loss of 10 cents per share. Earnings, adjusted for stock option expense, came to 6 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The company behind Snapchat posted revenue of $1.6 billion in the period, beating Street forecasts. Eleven analysts surveyed by Zacks expected $1.53 billion.
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