Key Highlights

  • Snap (NYSE:SNAP) is scheduled to report third-quarter 2026 results on Wednesday, November 4, 2026 after the close, with Options data implying a move of about 16 percent.
  • Second-quarter Revenue at Snap was USD 1.6 billion, up 19 percent, with 493 million daily and 971 million monthly active users, and third-quarter revenue guidance is USD 1.70 billion to USD 1.74 billion.
  • Zillow Group (NASDAQ:Z) is scheduled to report the same day after the close, with a 5:00 p.m. ET call, and options data implying a move of about 15.4 percent.
  • Zillow's second-quarter revenue was USD 772 million, up 18 percent, with adjusted EBITDA of USD 176 million, while average monthly unique users of 239 million fell 2 percent.

Snap: Advertising Rebound Meets World Cup Comparison

Snap (NYSE:SNAP) reported second-quarter revenue of USD 1,599 million, up 19 percent, a net loss of USD 164 million, adjusted EBITDA of USD 250 million and free Cash Flow of USD 121 million. Management said the World Cup helped the second quarter and that guidance of USD 1.70 billion to USD 1.74 billion for the third quarter, with adjusted EBITDA of USD 300 million to USD 350 million, reflects a normalisation, so the market will test whether advertisers keep spending after a major sporting event. Revenue from subscriptions and other products rose 85 percent to USD 316 million, yet fewer than 3 percent of monthly users pay. Full-year infrastructure cost guidance rose to USD 1.65 billion to USD 1.70 billion.

Zillow: Housing Super App Under Traffic Pressure

Zillow Group (NASDAQ:Z) reported second-quarter revenue of USD 772 million, a net loss of USD 4 million and adjusted EBITDA of USD 176 million, a 23 percent margin. Mortgage revenue rose 75 percent to USD 84 million and rentals rose 31 percent to USD 209 million, but visits of 2.5 billion and unique users of 239 million both fell 2 percent. Management said its AI search mode reaches about 20 percent of signed-in users, who contact agents at nearly three times the rate, and it cut more than 500 roles. Housing Demand and mortgage rates remain the swing factors, and a lower headcount should help costs only if revenue keeps growing.

Risks and What to Watch

Together the two reports give a read on the advertising market and the housing market. For Snap, watch revenue against the USD 1.70 billion to USD 1.74 billion guide, daily users, subscription growth and cost growth. For Zillow, watch traffic, mortgage origination Volume and margin, since mortgages are a new profit line. Implied moves of about 16 percent and 15.4 percent are snapshots from options data on October 30, not forecasts. Both stocks can move sharply on guidance and outlook commentary, and published calendars list report times that should be checked against company releases. Nothing in this article is Investment advice.

Where Things Stand

The answer is Snap and Zillow Group, which both report on November 4, 2026 after the close with implied moves near 16 percent and 15.4 percent. Snap (NYSE:SNAP) needs to show that advertising growth holds beyond the World Cup lift. Zillow Group (NASDAQ:Z) needs to show that mortgage and rental growth can offset softer traffic. Guidance for the next quarter is likely to drive the reaction at both companies.