Snap Misses Q2 Estimates, Eyes AR Glasses Launch

Snap Inc. reported Q2 2025 revenue of $1.34 billion, narrowly missing Wall Street's estimate of $1.35 billion, and posted a GAAP net loss of $0.16 per share. The company saw daily active users rise to 469 million, but global average revenue per user fell short of analyst expectations. Snap's stock dropped more than 14% in after-hours trading, reflecting concerns over the slowest revenue growth in over a year and a significant ad platform misconfiguration that negatively impacted advertising revenue. Analysts described the results as 'better than feared' but noted underperformance compared to rivals Meta and Alphabet. Snap projects Q3 revenue between $1.475 billion and $1.505 billion, and expects continued user growth. The company also announced plans to launch standalone AR glasses in 2026 as part of its strategy to leverage AI and spatial intelligence for new digital experiences.