Overview
- Revenue rose 12% to $1.53 billion, and daily active users reached 483 million after adding 9 million from the prior quarter.
- Snap said it ended its $400 million partnership with AI startup Perplexity and no longer expects any contribution from the deal.
- The company guided second-quarter revenue to $1.52 billion to $1.55 billion and based that view on zero Perplexity revenue.
- The outlook also assumes a steady operating environment in the Middle East, though Snap warned the region’s trajectory remains uncertain.
- Management said large North American advertisers still weighed on growth, and recent restructuring cut about 1,000 jobs and closed more than 300 open roles to lower costs.