Snap Reports Strong Revenue and New Partnerships

• Snap (SNAP) has announced a revenue of $1.51 billion, surpassing expectations, and initiated a stock buyback program valued at $500 million.

• Perplexity AI will invest $400 million in Snap, split between cash and stock, over the course of a year to integrate its AI search engine into the Snapchat platform.

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Shares of Snap have seen a notable increase of over 15%, gaining $1.13 per share.

In addition to reporting strong earnings, the company’s decision to buyback $500 million in stock and partner with Perplexity AI is expected to enhance its capabilities.

The reported sales of $1.51 billion exceeded anticipated figures of $1.49 billion. Daily active users also rose to 477 million, slightly ahead of estimates.

As for the partnership with Perplexity, the deal includes a $400 million investment, half in cash and half in stock.

Other notable companies making waves include:

DataDog (NASDAQ: DDOG): Stock prices jumped around 22%, increasing by $34, after posting strong profits that beat forecasts and raising its annual projections. The company’s EPS for the third quarter was 55 cents, exceeding expectations by 9 cents, with sales of $886 million marking a year-over-year rise of 28.4%.

Planet Fitness (NYSE: PLNT): PLNT’s stock is up about 12%, gaining $10.75, due to solid earnings. EPS increased to 80 cents, with revenues at $330.3 million—a 13% year-over-year rise. The company is also optimistic about continued revenue growth in 2025, adjusting expectations upward.

Appian Corporation (NASDAQ: APPN): APPN’s stock rose around 18%, adding $5.21 per share following strong earnings. The EPS climbed to 32 cents, marking a 27 cent increase. Sales hit $187 million, a 21.4% annual growth, leading to revised fourth-quarter cloud subscription revenue expectations.