Snap reports earnings beat and touts high-priced SPECS glasses as future growth engine

Snap’s stock jumped 12% in after-hours trading after the company reported second-quarter revenue that exceeded expectations, reaching $1.60 billion, a 19% increase from a year earlier. The firm narrowed its net loss to $164 million, improving on a $263 million loss in the comparable period last year, as it continues to focus on profitability. CEO Evan one outlet emphasized that the company’s most promising long-term venture is SPECS, a new line of see-through smart glasses priced at $2,195, with pre-orders opened in June and shipments expected this fall in the United States, United Kingdom and France.

The glasses combine AI assistance, navigation, streaming and augmented-reality overlays, and are slated for official launch on September 16. Snap’s guidance for the third quarter forecasts revenue between $1.70 billion and $1.74 billion, with full-year operating expenses remaining near $2.75 billion and infrastructure costs rising modestly as AI investments continue. The announcement follows a 1,000-person layoff earlier in the year aimed at cutting the cost base by more than $500 million by late 2026.