"Snap announced the amicable end of its relationship with Perplexity in Q1, with sales guidance now assuming no contribution from the partnership. The deal was expected to generate revenue starting in 2026."
"Snap's global daily active users rose 5% year-over-year to 483 million, while monthly active users also grew 5% to reach 965 million, driven by new features like Snap Map and Lenses AR filters."
"In Q1, we returned to growth in daily active users, accelerated revenue growth, expanded margins, and generated strong free cash flow, according to CEO Evan Spiegel."
Snap has terminated its partnership with Perplexity, which was intended to integrate an AI search engine into Snapchat. The deal, announced last November, involved Perplexity paying Snap $400 million. Snap's sales guidance now assumes no revenue from Perplexity. Despite this, Snap reported a 5% increase in daily and monthly active users, attributing growth to new app features. CEO Evan Spiegel emphasized a focus on disciplined execution and future investments in intelligent eyewear, following a significant workforce reduction due to AI advancements.
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