Snap Inc (NYSE:SNAP) shares are moving higher on Wednesday ahead of its first‑quarter earnings report, which is set to arrive after today's market close.

• Snap stock is building positive momentum. Why is SNAP stock trading higher?

Traders are positioning for a potentially steadier quarter, with expectations calling for a 7 cent loss, slightly better than the 8 cent loss posted a year ago. Revenue is projected to reach $1.53 billion, up from $1.36 billion last year, according to consensus estimates.

Market Focus Turns To Q1 Momentum

The stock is catching a bid as investors look for signs that Snap's improving trends from late 2025 may be carrying into the new year. Last quarter, the company delivered 10% year‑over‑year revenue growth, stronger margins and positive free cash flow.

That backdrop may be helping build anticipation for today's results.

What Traders Are Watching Into The Print

Snap's fourth-quarter performance set a higher bar. The company reported $1.716 billion in revenue, 59% gross margin, $270 million in operating cash flow, and $206 million in free cash flow. Net income came in at $45 million, and adjusted EBITDA reached $358 million. Engagement also strengthened, with global MAUs climbing to 946 million and advertiser activity rising across multiple formats.

The company also authorized a $500 million share repurchase program, supported by a strong balance sheet with $2.9 billion in cash and marketable securities.

SNAP Shares Are Climbing

SNAP Price Action: Snap shares were up 0.65% at $6.15 at the time of publication on Wednesday, according to Benzinga Pro.

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