Snap stock price jumps 25% in extended trading on $400 million Perplexity AI deal, Q3 earnings
Snap stock price jumped more than 25% in extended trading on Wednesday after the company announced a $400 million partnership with Perplexity AI Inc, along with a third-quarter revenue beat.
Perplexity will pay Snap $400 million over one year in cash and equity. Revenue from the partnership is expected to start contributing to results next year. Perplexity’s answer-engine will be integrated into Snapchat’s Chat interface beginning in 2026.
Snap said that its existing My AI chatbot will also be available to users.
Snap Q3 Earnings
Snap’s revenue rose 10% to $1.51 billion the third quarter ending September 30, beating analysts’ average estimate of $1.49 billion, according to data compiled by LSEG. Its net loss narrowed to $104 million…
