Reported about 23 hours ago
Snap exceeded quarterly revenue expectations with a 10% increase to $1.51 billion, boosted by a partnership with Perplexity AI to enhance its Snapchat search capabilities. The agreement, worth $400 million, is expected to help Snap compete against larger competitors like TikTok and Meta. Daily active users rose by 8%, but Snap cautioned about potential declines in the upcoming quarter due to regulatory changes. Analysts forecast $1.69 billion in fourth-quarter revenue.
Source: YAHOO