Snap(US:SNAP) 美股IPO·2025-11-06 04:26Core Viewpoint - Snap's third-quarter revenue increased by 10% year-over-year to $1.5 billion, slightly exceeding analyst expectations, while net loss narrowed to $104 million, better than the anticipated loss of over $200 million. The company announced a $400 million partnership with AI startup Perplexity, which will be integrated into Snapchat starting in 2026, opening new revenue streams amid challenges in its advertising business [1][3][5]. Group 1: Financial Performance - Snap's third-quarter revenue reached $1.5 billion, marking a 10% year-over-year growth, which is above analyst forecasts [3]. - The net loss for the quarter was $104 million, significantly better than the expected loss of over $200 million, attributed to restructuring and cost control measures [3][5]. - Despite the recent stock surge, Snap's shares have declined approximately 20% year-to-date [3]. Group 2: Strategic Partnerships and Future Plans - Snap has entered into a $400 million agreement with Perplexity, which will pay through a combination of cash and equity over the next year [3][5]. - The integration of Perplexity's AI search engine into Snapchat is set to begin in 2026, allowing users to ask questions and receive clear, conversational answers from verified sources within the app [5]. - This partnership aims to create new revenue channels for Snap, particularly as it faces challenges in advertising growth against competitors like Meta [5]. Group 3: User Engagement and Market Position - Snap reported a 7% year-over-year increase in monthly active users, reaching 943 million [5]. - The company is shifting the development of its augmented reality glasses, Spectacles, to a subsidiary named "Specs," similar to Alphabet's Waymo model, and is in talks with investors for additional funding [5].