Snap Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Snap Inc. (SNAP) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $359.5 million, or $0.22 per share. This compares with $72 million, or $0.05 per share, in last year's third quarter.

Excluding items, Snap Inc. reported adjusted earnings of $0.17 per share for the period.

Analysts on average had expected the company to earn -$0.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.7% to $1.12 billion from $1.06 billion last year.

Snap Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $359.5 Mln. vs. $72 Mln. last year. -EPS (Q3): $0.22 vs. $0.05 last year. -Analyst Estimate: -$0.01 -Revenue (Q3): $1.12 Bln vs. $1.06 Bln last year.