Snap settles teen harm lawsuit as it reports Q3 results
The gist
Snap settled a lawsuit by two teenagers accusing its platform of harming their mental health.
The settlement lands the same day Snap reports Q3 results, with the stock down 34% in 2026.
How it unfolded
- Aug 3, 2026On the earnings call, CFO Doug Hott flagged several U.S. trials later in the year and said outcomes may force significant changes to products and business practices, with negative impacts to user growth and engagement. Management guided fiscal Q3 2026 revenue of $1.70 billion to $1.74 billion, about 13% to 15% above the same quarter of 2025.
- Sep 8, 2026Snap named a new Chief Commercial Officer to lead global advertising sales, focused on ad revenue growth.
- Oct 30, 2026Meta Platforms settled with the last remaining plaintiff two days into jury selection in the Los Angeles youth-harm trial; Snap fell 5.99% that day to $5.34, ending a 15.8% drop over four sessions.