Snap Stock News

Shares of the social media company jumped after the latest update showed improving ad performance. Snapchat's monthly-active-user count is approaching 1 billion.

Snap surged post-earnings on a $400 million AI partnership with Perplexity AI, despite weak user growth and ARPU trends. The Perplexity deal provides near-term revenue upside, but SNAP's long-term success hinges on reigniting North American user growth. Q3 results showed sluggish global DAU growth, flatlining in North America, and ARPU compression, highlighting fundamental business challenges.

Major U.S. equities indexes slid Thursday afternoon, led by tech stocks after a flurry of earnings reports and as worries about an AI bubble resurfaced. The Dow, S&P 500, and Nasdaq all lost ground.

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 (SNAP) reported $1.51B in revenue, beating estimates, and announced a $500M stock buyback program.

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.