Snap (SNAP) Q1 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Snap delivered a mixed first quarter for 2025, posting revenue of $1.36 billion, a 14.1% year-over-year gain that edged past the $1.35 billion consensus by 1.35%, yet falling well short on the bottom line with a loss of $0.08 per share against expect… Read more Snap delivered a mixed first quarter for 2025, posting revenue of $1.36 billion, a 14.1% year-over-year gain that edged past the $1.35 billion consensus by 1.35%, yet falling well short on the bottom line with a loss of $0.08 per share against expectations of $0.04, a 327.27% miss that underscored the gap between topline momentum and profitability. The headline driver was the continued ascent of direct-response advertising, which grew 14% year-over-year and now accounts for 75% of total advertising revenue, while Snapchat+ subscriptions surged 75% to $152 million, signaling meaningful diversification away from brand advertising. Adjusted EBITDA more than doubled to $108.42 million, and the net loss narrowed sharply to $139.59 million from $305.09 million a year ago. The forward picture, however, carries uncertainty; Snap withheld formal Q2 revenue guidance citing macroeconomic headwinds and early-quarter advertising softness, a move that led some analysts to lower their fair value estimates for the stock, even as the company trimmed full-year adjusted operating expense guidance by $50 million to a range of $2.65 to $2.70 billion.