Q4 25 EPS
$0.03
BEAT +189.02%
Est. $-0.03
Q4 25 Revenue
$1.72B
BEAT +0.96%
Est. $1.70B
vs S&P Since Q4 25
-33.6%
TRAILING MARKET
SNAP -22.6% vs S&P +10.9%
Full Year 2025 Results
FY 25 EPS
$-0.27
BEAT +19.28%
Est. $-0.33
FY 25 Revenue
$5.93B
BEAT +0.26%
Est. $5.92B
Market Reaction
Did SNAP Beat Earnings? Q4 2025 Results
Snap delivered a decisive beat to close out fiscal 2025, swinging to a profit that few on Wall Street had anticipated. The company posted Q4 earnings per share of $0.03 against a consensus estimate of -$0.03, a 200.00% positive surprise, while revenu… Read more Snap delivered a decisive beat to close out fiscal 2025, swinging to a profit that few on Wall Street had anticipated. The company posted Q4 earnings per share of $0.03 against a consensus estimate of -$0.03, a 200.00% positive surprise, while revenue climbed 10.2% year over year to $1.72 billion, edging past the $1.70 billion analyst forecast. The clearest driver behind the profitability milestone was a combination of gross margin expansion to 59% and the rapid scaling of Snapchat+, which surpassed 24 million subscribers, up 71% year over year, helping push Other Revenue 62% higher and diversifying the company away from pure advertising dependence. Adjusted EBITDA reached $357.75 million, with more than half of incremental revenue converting to that metric. Some analysts have flagged ongoing concerns about Snap's monetization efficiency relative to larger rivals, context that makes the SMB ad revenue growth, now a sixth consecutive quarter of majority contribution, particularly meaningful. Looking ahead, Snap guided Q1 2026 revenue of $1.50 billion to $1.53 billion and targets exceeding 60% gross margins for the full year.
Key Takeaways
- • Revenue from In-App Optimizations grew 89% year-over-year
- • Revenue from Dynamic Product Ads increased 19% year-over-year
- • Other Revenue increased 62% year-over-year driven by Snapchat+ subscribers growing 71% to 24 million
- • SMBs contributed the majority of advertising revenue growth for the sixth consecutive quarter
- • Total active advertisers increased 28% year-over-year
- • Adjusted Gross Margin expanded to 59% from 55% in Q3 and 57% in Q4 2024
- • Adjusted EBITDA flow-through of 51% in Q4
- • Global impression volume increased approximately 14% year-over-year
SNAP YoY Financials
Q4 2025 vs Q4 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 Q4 results began to reflect the impact of our strategic pivot toward profitable growth, translating into revenue diversification and meaningful margin expansion.”
— Evan Spiegel, Q4 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% |