{"id":4831,"date":"2026-08-03T23:36:56","date_gmt":"2026-08-03T23:36:56","guid":{"rendered":"https:\/\/uspropertymoves.com\/?p=4831"},"modified":"2026-08-03T23:36:56","modified_gmt":"2026-08-03T23:36:56","slug":"snap-ceo-sees-new-wearable-glasses-as-largest-long-term-opportunity","status":"publish","type":"post","link":"https:\/\/uspropertymoves.com\/?p=4831","title":{"rendered":"Snap CEO Sees New Wearable Glasses as \u201cLargest Long-Term Opportunity\u201d"},"content":{"rendered":"<div>\n<!-- do not apply CSS styles to this element! --><\/p>\n<div>\n<p>\n\tShares of Snap were up 12 percent after hours Monday as the social media platform beat second-quarter revenue expectations.\u00a0<\/p>\n<p>Read more <a href=\"https:\/\/uspropertymoves.com\/?p=4829\">CBS Grabs Comedy Pilot About a 70-Year-Old Broadway Hopeful<\/a><\/p>\n<p>\n\tRevenue increased 19 percent year-over-year to $1.60 billion, as monthly active users grew to 971 million, up from 956 million in the prior quarter, and daily active users reached 493 million, up from 483 million in the prior quarter. The company reported a net loss of $164 million, after a net loss of $263 million in the prior year, as part of its renewed focus to reach profitability.\u00a0<\/p>\n<p>\n\tBut beyond the current revenue growth that\u2019s being seen around the app, and the company\u2019s new \u201cmore focused, AI-enabled operating model,\u201d CEO Evan Spiegel outlined that he sees the company\u2019s future in its newest version of wearable technology.\u00a0<\/p>\n<p>\n\t\u201cOur largest long-term opportunity is SPECS, a new kind of computer built into see-through glasses. SPECS are designed for a future in which AI does more work on our behalf and people spend less time operating screens. I believe we can pursue that future from a much stronger position by continuing to improve our core business and remaining disciplined about how we invest,\u201d Spiegel said in the press release.\u00a0<\/p>\n<p>\n\tSnap announced the new wearable glasses in June, setting up pre-orders of the $2,195 glasses with expected shipment this fall in the United States, United Kingdom and France. The glasses were described as a mix of other AI glasses and VR headsets, offering tech such as directions, AI assistance, the ability to stream content and overlay interactive lessons onto surfaces. The glasses don\u2019t officially launch until Sept. 16.\u00a0Asked on the earnings call how pre-orders are going so far, Spiegel admitted that many consumers want to try the tech before committing.<\/p>\n<p>\n\t\u201cWhat we\u2019re hearing from folks is really that they want to try SPECS. It\u2019s obviously a high consideration purchase, you know, at $2,195, and and obviously developers and folks who are familiar with the platform really understand it and understand the technical leap we\u2019ve made with with this generation, I think for the broader public and consumers, it\u2019s going to be really important for folks to go hands-on. I think September 16th, our upcoming launch event, will be an important you know sort of starting point for that consumer-oriented journey,\u201d Spiegel said on the earnings call. <\/p>\n<p>\n\tSnap has attempted glasses in the past and has not seen big returns. The company launched Spectacles, camera-equipped sunglasses that recorded short videos, in 2016. These were not big sellers and caused the company, in 2017, to report losses due to excess orders. The company later released updated versions of the glasses and then new AR glasses in 2021.\u00a0Asked what gives Spiegel the confidence to compete against Apple and other big companies who are developer similar products, Spiegel said the company has \u201cfirst-mover\u201d advantage. <\/p>\n<p>Read more <a href=\"https:\/\/uspropertymoves.com\/?p=4827\">Spider-Man\u2019s Next Move? Sony\u2019s Tom Rothman on Tom Holland\u2019s Future, \u2018Jumanji\u2019 and Beatles<\/a><\/p>\n<p>\n\t\u201cWhat is very clear to us is that the long-term opportunity to develop the next computing platform is absolutely enormous. If you look at what laptops and desktops did to desk jobs, the transformations in productivity and what that enabled for the world over the last couple decades has just been extraordinary. And I think what\u2019s so unique about SPECS is that they bring computing to the real world and to real-world jobs and allow you to work hands-free,\u201d Spiegel said. <\/p>\n<p>\n\tThe company said the investment in SPECS is included in its full-year adjusted operating expense outlook, which remains $2.75 billion. Snap\u2019s guidance range for Q3 revenue is $1.70 billion to $1.74 billion, and the company also expect infrastructure costs to grow modestly with full-year costs of $1.65 billion to $1.70 billion due to continued investments in the company\u2019s AI-enabled operating model.<\/p>\n<p>\n\tAll of this comes after the company laid off 1,000 employees, including 16 percent of full-time employees, were laid off at the company in April. The company said the layoffs would reduce the company\u2019s annualized cost base by more than $500 million by the second half of 2026, which would help the company get closer to profitability.<\/p>\n<p>\n\t\u201cLast fall, I described Snap as facing a crucible moment, requiring a new way of working that is faster and more efficient, while pivoting towards profitable growth. Over the past several months, we have carefully reviewed the work required to best serve our community and partners and made tough choices to prioritize the investments we believe are most likely to create long-term value,\u201d Spiegel said at the time.\u00a0<\/p>\n<p>\n\tOne  possible obstacle for the business moving forward, as the company noted, is a number of trials as well as \u201cregulatory scrutiny\u201d related to the use of the app by younger generations. <\/p>\n<p>\n\t\u201cWe continue to monitor the evolving legal and regulatory landscape in the United States and internationally that could materially impact our business and financial results, including increased regulatory scrutiny on youth-related issues and several trials scheduled in the United States later this year. While outcomes remain uncertain, they may result in significant changes to our products and business practices, increased compliance requirements and legal costs, increased payments for legal judgments and settlements, and negative impacts to user growth and engagement,\u201d CFO Doug Hott said. <\/p>\n<p>Read more <a href=\"https:\/\/uspropertymoves.com\/?p=4825\">The Best Disney+ Free Trial Hacks and Subscription Deals<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Snap CEO sees SPECS, the company&#039;s upcoming wearable glasses, as its &#039;largest long-term opportunity.&#039;<\/p>\n","protected":false},"author":1,"featured_media":4830,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3085,3130],"class_list":["post-4831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting","tag-earnings","tag-snap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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