One analyst says payment delays across states are likely, even after the government's reopening.
SNAP's Q3 loss meets estimates as revenues rise 10% Y/Y, fueled by gains in subscriptions and global ad impressions.
Perplexity will pay Snap $400 million over one year to integrate its artificial intelligence-powered answer engine into Snapchat.
Snap shares soared some 12% on Thursday after the owner of the Snapchat social media platform posted better-than-expected results and guidance on user growth and spending.
Snap Inc (NYSE:SNAP) stock is soaring this morning, up 16% at $8.47 after the Snapchat parent posted a third-quarter revenue beat and revealed a deal with Perplexity AI worth $400 million.
Snap surged Thursday after announcing a $400 million deal with Perplexity AI. Perplexity will integrate its AI-powered search engine directly into the Snapchat app.
There was a moment when Snapchat looked like it was destined to be a relic in social media history, losing users and missing its own revenue forecasts.
The integration of Perplexity's search tool into Snapchat comes nearly two years after the platform integrated its “My AI” chatbot into the social media app. At launch, My AI was powered by OpenAI's GPT models but last year, the chatbot also integrated Google's Gemini AI models.
Snap (SNAP) came out with quarterly earnings of $0.06 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.08 per share a year ago.
Snap saw its stock surge 25% after market close as it announced a partnership with Perplexity to integrate that firm's AI-powered answer engine directly into Snapchat. Perplexity will pay Snap $400 million over one year, through a combination of cash and equity. Revenue from the partnership is expected to begin contributing in 2026.
Snap on Wednesday issued its third-quarter earnings, reporting revenue that beat analysts expectations and announcing a $500 million stock repurchase program. In a letter, Snap said that new policies around the globe, including Australia's social media minimum age bill, may result in a decline of daily active users in the fourth quarter.
Get a deeper insight into the potential performance of Snap (SNAP) for the quarter ended September 2025 by going beyond Wall Street's top-and-bottom-line estimates and examining the estimates for some of its key metrics.