New York, Feb 4, 2026, 10:48 (EST) — Regular session
Snap Inc (SNAP.N) shares dropped roughly 1% to $6.03 in mid-morning trading on Wednesday, deepening losses ahead of the Snapchat parent’s earnings report after the bell.
The stock dropped 8.4% Tuesday, ending the day at $6.10 — marking its fourth day in a row of losses. Trading volume surged to more than double the 50-day average, according to MarketWatch data. Snap’s shares now trade roughly 48% below their 52-week peak of $11.71. 1
The report comes amid a shaky phase for tech following Tuesday’s drop in major stocks. “We’re seeing a lot of software companies across the spectrum get hit,” noted Art Hogan, chief market strategist at B. Riley Wealth. John Campbell from Allspring added that expectations were “really high.” 2
Snap plans to release its Q4 and full-year 2025 results after U.S. markets close, with a webcast set for 2 p.m. PT (5 p.m. ET), per its investor website. 3
Revenue estimates hover near $1.70 billion, but earnings forecasts vary widely. Some predict an adjusted profit close to 15 cents per share, while others expect a loss around 3 cents. Adjusted earnings exclude items like stock-based compensation to better reflect the underlying business performance. 4
Investors are eyeing Snap’s big push into augmented reality. Last week, the company announced plans for a standalone unit focused on its “Specs” smart glasses. It’s opening the door to minority investors and hiring nearly 100 people ahead of the launch, aiming to compete with Meta’s Ray-Ban glasses and Google’s partnership with Warby Parker. CEO Evan Spiegel revealed that Snap has poured over $3 billion into AR glasses development over 11 years. 5
The downside scenario is straightforward: any more cautious forecasts or hints that ad spending is pulling back could weigh on a stock already trading near its lows. Policy risks have resurfaced in Europe, where Spain and Greece proposed bans targeting teen social media use. Snap criticized Australia’s comparable legislation, saying it “leaves significant gaps that could undermine its goals.” 6
All eyes now turn to the report after the bell, particularly management’s take on 2026—ad demand, user trends, and just how aggressively Snap bets on Specs.
