Q3 25 EPS
$-0.06
BEAT +50.58%
Est. $-0.12
Q3 25 Revenue
$1.51B
BEAT +1.11%
Est. $1.49B
vs S&P Since Q3 25
-56.0%
TRAILING MARKET
SNAP -43.8% vs S&P +12.1%
Market Reaction
Did SNAP Beat Earnings? Q3 2025 Results
Snap delivered a stronger-than-expected third quarter, posting a loss of $0.06 per share against a consensus estimate of $0.12 and growing revenue 9.8% year-over-year to $1.51 billion, edging past the $1.49 billion Wall Street had anticipated. The he… Read more Snap delivered a stronger-than-expected third quarter, posting a loss of $0.06 per share against a consensus estimate of $0.12 and growing revenue 9.8% year-over-year to $1.51 billion, edging past the $1.49 billion Wall Street had anticipated. The headline beat was underpinned by two accelerating engines: Snapchat+ subscriptions, which surged 54% year-over-year to $190 million in Other Revenue, and a rebound in international advertising, with Europe and Rest of World growing 12% and 13% respectively, compensating for near-flat North America ad revenue. Net loss narrowed to $103.54 million from $153.25 million a year ago, while Adjusted EBITDA climbed 38% to $182.04 million, reflecting meaningful cost discipline that management now expects to keep full-year Adjusted Operating Expenses near the low end of the $2.65 to $2.70 billion range. Snap's stock jumped more than 10% following the report. Looking ahead, the company guided Q4 revenue of $1.68 to $1.71 billion, though it cautioned that daily active users, currently at 477 million, may dip modestly due to age verification mandates and infrastructure recalibrations in lower-monetization markets.
Key Takeaways
- • Direct Response advertising revenue accelerated to 8% YoY growth, up 3 percentage points from prior quarter
- • Purchase-related ad revenue grew over 30% YoY from higher attribution accuracy and better campaign performance
- • SMB advertiser segment grew more than 25% in North America in Q3
- • Snapchat+ subscribers grew 35% YoY to approach 17 million
- • Global impression volume grew approximately 22% YoY
- • Adjusted Gross Margin expanded to 55% from 52% in Q2 and 54% in prior year Q3
- • Significant acceleration in European advertising revenue growth (12% YoY, up 6pp sequentially) and Rest of World (13% YoY, up 10pp sequentially)
SNAP YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
SNAP Revenue by Segment
With YoY comparisons, source: SEC Filings
SNAP Revenue by Geography
With YoY comparisons, source: SEC Filings
“Our focus on performance, creativity, and simplicity is helping advertisers achieve stronger results while giving our community more ways to communicate.”
— Evan Spiegel, Q3 2025 Earnings Press Release
SNAP Earnings Trends
SNAP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SNAP EPS Trend
Earnings per share: estimate vs actual
SNAP Revenue Trend
Quarterly revenue: estimate vs actual
SNAP Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.07 | $-0.05 | +29.38% | $1.53B | +0.08% |
| Q4 25 BEAT FY | $-0.03 | $0.03 | +189.02% | $1.72B | +0.96% |
| FY Full Year | $-0.33 | $-0.27 | +19.28% | $5.93B | +0.26% |
| Q3 25 BEAT | $-0.12 | $-0.06 | +50.58% | $1.51B | +1.11% |
| Q2 25 MISS | $0.02 | $-0.16 | -1,132.26% | $1.34B | -0.05% |
| Q1 25 MISS | $0.04 | $-0.08 | -327.27% | $1.36B | +1.35% |