SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Wednesday reported third-quarter profit of $56.5 million.

On a per-share basis, the Santa Monica, California-based company said it had net income of 3 cents. Earnings, adjusted for stock option expense, came to 15 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 16 cents per share.

The company behind Snapchat posted revenue of $1.72 billion in the period, meeting Street forecasts.

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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