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Snap (SNAP) delivered earnings and revenue surprises of +7.64% and +0.55%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
↘️ Arm Holdings (ARM): The British semiconductor design company said it was seeing rampant demand for its new computer chips. Shares were volatile afterhours, recently falling more than 7%, after rising 14% during regular trading hours.
Snap and Perplexity scrapped a deal to integrate the startup’s AI-powered answer engine directly into the social-media platform, ending a relationship that had boosted investors’ hopes for improved profitability at Snap.
Snap said on Wednesday its first-quarter revenue rose 12% on the back of resilient advertising spending and that its number of daily active users returned to growth, driven by markets outside of North America and Europe. The Snapchat parent, squeezed between dominant platforms such as TikTok and Meta's Instagram in a crowded social media market, has been turning to subscriptions to boost its revenue, which comes predominantly from advertising sales. Snap and artificial intelligence start-up Perplexity "amicably" ended their $400 million deal in the first quarter, it said on Wednesday, around six months after announcing it.
Here's how two senior executives said AI will affect their businesses in the years ahead: AI changes “how we work,” says Brian Armstrong, CEO at Coinbase Global. The company on Tuesday announced it was cutting 14% of its workforce.
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