Snap reported first-quarter earnings and provided cautious sales guidance while revealing it no longer has a deal with the generative AI startup Perplexity.
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Snap
shares dropped about 4% in extended trading after the company reported first-quarter earnings on Wednesday and provided cautious sales guidance while revealing it no longer has a deal with the generative AI startup Perplexity.
Here is how the company did compared with Wall Street’s expectations:
Snap’s first-quarter sales rose 12% year-over-year while its net loss was $89 million, representing a narrowing of 36% from the $139.6 million it logged the previous year.
Perplexity AI will pay the social media company $400 million over 1 year to integrate the AI startup's search features into…
Perplexity will integrate its AI-powered search engine directly into the Snapchat app.
Snap released on Wednesday its fourth-quarter earnings that beat on sales but missed on revenue guidance.
Snap reported second-quarter earnings in which sales were basically in line with analysts' estimates while global average revenue…
As reasons for the Snap downgrade, Citizens pointed to ongoing leadership changes and increasing competition.
Snap was up in premarket trading on Wednesday after announcing plans to lay off up to 16% of its global workforce in an effort to…
