Snap: Q2 Earnings Snapshot
By AP News
Published - Jul 25, 2023, 04:48 PM ET
Last Updated - Jul 25, 2023, 04:48 PM EDT
SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Tuesday reported a loss of $377.3 million in its second quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 24 cents. Losses, adjusted for one-time gains and costs, were 2 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The company behind Snapchat posted revenue of $1.07 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $1.05 billion.
