On January 6th (reported by Financial Association, editor Zhou Ziyi), on Wednesday (November 6th), US social media company Snap announced its third-quarter earnings, with revenue and profits exceeding analysts' expectations. It also announced a $500

Snap Inc. reported third-quarter revenue of $1.51 billion, exceeding the Wall Street expectation of $1.49 billion. The adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $182 million, beating the estimated $124 milli

In addition, the company reported that its global daily active user count reached 477 million, slightly higher than the expected 476 million, compared to the previous quarter's 469 million.

Meanwhile, the company has also provided guidance for the next quarter, with expected sales in the fourth quarter of this year to be between $1.68 billion and $1.71 billion, with an average value of $1.695 billion, slightly higher than the Wall Stree

AI Integration

At the financial report meeting, Snap announced a collaboration with start-up Perplexity AI, which will integrate its conversational search directly into Snapchat, with the feature expected to be launched in early 2026 on Snapchat.

Snap mentioned in a letter to investors that Perplexity will pay Snap $400 million in cash and equity over the course of one year as it achieves global promotion. The revenue from this partnership is expected to start contributing in 2026.

The two companies stated in their joint announcement that this collaboration is the beginning of Snap's efforts to build a platform that aims to connect top AI companies with Snapchat's global user base in an innovative and reliable manner.

Snap CEO Evan Spiegel said that the chatbot of Perplexity will be placed in our chat inbox by default, and Perplexity will also control the responses given by its chatbot inside Snapchat.

Although Snapchat users can still interact with the company's 'My AI' chatbot, the AI services from Perplexity will provide users with 'real-time answers from reliable sources and the ability to explore new topics within the app.'

Spiegel also pointed out that this collaboration will help Perplexity increase its subscriber base, which I believe is of great value to their business. We have a rare opportunity to promote our AI proxy products through our chat interface.

In addition, Snap recently confirmed that it will transfer the development of its augmented reality (AR) glasses, Spectacles, to a subsidiary called 'Specs', following the model of Alphabet and its autonomous driving project Waymo.

Snap CEO Spiegel has announced that the company is investing heavily in developing augmented reality glasses and plans to establish a separate subsidiary centered around Specs AR glasses to speed up the research and development process with its partn

After-hours surge in stock price

So far this year, Snap's stock price has dropped by 32%, while the Nasdaq index has risen by 22% overall. Following the release of this financial report, the company's stock surged by 25% during the after-hours trading on Wednesday (November 5).

After Snap's Chief Financial Officer Derek Andersen detailed some sales issues during the company's earnings call, its stock price fell but still rose 15% after the market closed.

Andersen expressed that the LCS (Large Customer Solutions) department in North America remains a major driver of Snap's overall revenue growth.

In the third season, the revenue of the LCS department accounted for about 43% of the company's global income, which has decreased by about 10 percentage points compared to two years ago.

In its letter to investors, Snap stated that bills related to social media's minimum age limit in Australia and the progress of related policies could potentially have a negative impact on Snap's user activity metrics, but the specific impact is yet

Snap also mentioned in the letter that "while we are still committed to serving 1 billion monthly active users worldwide, given these internal and external factors, we expect the overall daily active user count to decrease in the fourth quarter. In a