On August 4, Snap Inc rose 6.94% overnight, trading at $5.4/share, with turnover of $9,722.24. The rally followed the company's Q2 earnings release, which delivered results significantly above market expectations.

Snap reported Q2 revenue of $1.6 billion, up 19% year-over-year, well above the consensus estimate of $1.541 billion. Adjusted EBITDA reached $249.6 million, far exceeding the $188.8 million analyst forecast. The company guided Q3 revenue to $1.7-1.74 billion, also above expectations of $1.7 billion. The outperformance was primarily driven by increased advertising spend during the FIFA World Cup, alongside stronger North American advertiser campaigns. The company's AI-powered Smart Campaign Solutions helped advertisers achieve more efficient bidding, budget management, and audience targeting. Management noted broader adoption of newer ad formats including Sponsored Snaps. The CFO indicated a new multi-year share buyback program will launch in 2027 after the current plan concludes in Q4. Additionally, CEO expressed excitement about a September 16 Los Angeles event to showcase the company's consumer AR glasses, Spectacles, priced at $2,195 and now available for pre-order.

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