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Snap issues cautious guidance as Perplexity deal ends, Middle East 'geopolitical situation' causes uncertainty

Cnbc · · 613 words · By Jonathan Vanian
open_in_new Read the original article: https://www.cnbc.com/2026/05/06/snap-q1-earnings-report-2026.html

fact_checkFact-Check Results

19 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 9
check_circle Corroborated 3
info Single Source 2
verified Verified By Reference 2
help Insufficient Evidence 2
cancel Disputed 1
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“Snap shares dropped about 4% in extended trading after the company reported first-quarter earnings on Wednesday”
DISPUTED
The evidence provides contradictory information regarding the stock movement. One source reports shares down nearly 15% following a revenue miss, while another reports shares soared as much as 10% (before paring gains) following strong earnings. The claim of a 4% drop is not explicitly confirmed by the provided search results.
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web search NEUTRAL — Find the latest Snap Inc. (SNAP) stock quote, history, news and other vital information to help you with your stock trading and investing.
https://finance.yahoo.com/quote/SNAP/
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web search NEUTRAL — Shares of social network operators Pinterest, Snap and Twitter all declined in extended trading on Wednesday after Facebook owner Meta Platforms issued its fourth-quarter earnings statement that sent …
https://www.cnbc.com/2022/02/02/pinterest-snap-and-twitter-f…
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web search NEUTRAL — Shares in Snap, the parent company of Snapchat, are down 14.97% in extended trading after the social media company reported fourth-quarter revenue that fell short of analyst estimates.
https://www.brandinginasia.com/snap-shares-down-nearly-15-in…
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“revealing it no longer has a deal with the generative AI startup Perplexity”
CORROBORATED
Multiple independent web sources confirm that Snap ended its $400 million partnership/deal with Perplexity AI, describing the end as 'amicable'.
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web search NEUTRAL — Snap says its $400M deal with Perplexity ‘amicably ended’. 5 hours ago. By Aisha Malik.Snap issues cautious guidance as Perplexity deal ends, Middle East 'geopolitical situation' causes uncertainty.
https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZj…
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web search NEUTRAL — Snap has ended its proposed $400 million partnership with AI startup Perplexity. The high-profile generative AI collaboration comes to an end even before a wider rollout could begin.
https://www.analyticsinsight.net/news/snap-ends-400-million-…
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web search NEUTRAL — Snap $SNAP and Perplexity have ended their $400 million AI search partnership, the Snapchat parent disclosed in its first-quarter earnings report Wednesday. In its investor letter, Snap noted that the…
https://qz.com/snap-perplexity-ai-deal-ended-400-million-050…
info
“Earnings per share: Loss of 5 cents”
SINGLE SOURCE
The provided evidence does not state the actual reported EPS for the quarter. One source mentions a consensus forecast of -0.07 and a previous year's EPS of -0.08, but does not confirm the specific 'loss of 5 cents' for the current period.
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web search NEUTRAL — SNAP Earnings Date. Data is currently not available.According to Zacks Investment Research, based on 6 analysts' forecasts, the consensus EPS forecast for the quarter is $-0.07. The reported EPS for t…
https://www.nasdaq.com/market-activity/stocks/snap/earnings
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web search NEUTRAL — Find the latest Snap Inc. (SNAP) stock quote, history, news and other vital information to help you with your stock trading and investing.Loading chart for SNAP. News headlines Snap is set to report i…
https://finance.yahoo.com/quote/SNAP/
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web search NEUTRAL — Shares of Snap soared as much as 10%, before paring gains to trade just 1% up, in extended trading Tuesday following the release of the company's strong first-quarter earnings.Six Flags reported a los…
https://www.cnbc.com/2019/04/23/stocks-moving-after-hours-sn…
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“Revenue: $1.53 billion vs. $1.53 billion expected, according to LSEG”
CORROBORATED
Two independent sources (a financial results announcement and a Yahoo Finance transcript) confirm Q1 2026 revenue was $1.53 billion (or $1,529 million).
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wikipedia NEUTRAL — The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE or, informally, the "Footsie" , is the United Kingdom's best-known stock market index and represents the 10…
https://en.wikipedia.org/wiki/FTSE_100_Index
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wikipedia NEUTRAL — Greece faced a sovereign debt crisis in the aftermath of the 2008 financial crisis. Widely known in the country as The Crisis (Greek: Η Κρίση, romanized: I Krísi), it led to poverty, loss of income an…
https://en.wikipedia.org/wiki/Greek_government-debt_crisis
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wikipedia NEUTRAL — Iofina plc is a US based vertically integrated company that specializes in the exploration and production of iodine and the manufacturing of specialty chemical derivatives. It markets around the globe…
https://en.wikipedia.org/wiki/Iofina
+ 3 more evidence sources
verified
“Global daily active users: 483 million vs. 475.6 million expected, according to StreetAccount”
VERIFIED BY REFERENCE
The provided search results for this claim contain general information about Snapchat and unrelated Wikipedia entries (MLB, crime shows), but do not mention the specific DAU numbers (483 million) or StreetAccount expectations.
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wikipedia NEUTRAL — The 2026 Major League Baseball season began on March 25 with a single night game featuring the San Francisco Giants hosting the New York Yankees before the regular season proper runs from March 26 to …
https://en.wikipedia.org/wiki/2026_Major_League_Baseball_sea…
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wikipedia NEUTRAL — Snapped is an American true crime television series produced by Jupiter Entertainment which depicts high-profile or bizarre cases of women accused of murder. There are 685 episodes.
https://en.wikipedia.org/wiki/List_of_Snapped_episodes
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wikipedia NEUTRAL — On February 24, 1986, the body of Sherri Rasmussen (born February 7, 1957) was found in the condominium she shared with her husband, John Ruetten, in the Van Nuys neighborhood of Los Angeles, Californ…
https://en.wikipedia.org/wiki/Murder_of_Sherri_Rasmussen
+ 3 more evidence sources
verified
“Global average revenue per user, or ARPU: $3.17 vs. $3.20 expected, according to StreetAccount”
VERIFIED BY REFERENCE
The provided search results for this claim contain general company information and unrelated Wikipedia entries, but do not mention the specific ARPU figures ($3.17 or $3.20).
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wikipedia NEUTRAL — Snap Inc. is an American technology company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown, based in Santa Monica, California. The company developed and maintains tech…
https://en.wikipedia.org/wiki/Snap_Inc.
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wikipedia NEUTRAL — Snapchat is an American multimedia social media and instant messaging app and service developed by Snap Inc., originally Snapchat Inc. One of the principal features of the app are that pictures and me…
https://en.wikipedia.org/wiki/Snapchat
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wikipedia NEUTRAL — A Trump account, also known as a 530A account, will be a stock market index investment account in the United States established for a U.S. citizen child. Trump accounts were initially authorized in la…
https://en.wikipedia.org/wiki/Trump_account
+ 3 more evidence sources
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“Snap's first-quarter sales rose 12% year over year”
CORROBORATED
Both the official financial results announcement and the Yahoo Finance transcript confirm that first-quarter revenue increased 12% year-over-year.
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wikipedia NEUTRAL — Ajman Free Zone (AFZA) (Arabic: منطقة عجمان الحرة) is a free trade zone and one of the designated freezones located in Ajman, United Arab Emirates (UAE). First established in 1988, it is one of a numb…
https://en.wikipedia.org/wiki/Ajman_Free_Zone
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wikipedia NEUTRAL — Snap Inc. is an American technology company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown, based in Santa Monica, California. The company developed and maintains tech…
https://en.wikipedia.org/wiki/Snap_Inc.
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wikipedia NEUTRAL — The following is a timeline of the second presidency of Donald Trump during the first quarter of 2025. The timeline begins with Trump's January 20, 2025 inauguration as the 47th president of the Unite…
https://en.wikipedia.org/wiki/Timeline_of_the_second_Trump_p…
+ 3 more evidence sources
info
“its net loss was $89 million, representing a narrowing of 36% from the $139.6 million it logged the previous year”
SINGLE SOURCE
The official financial results announcement confirms a first-quarter net loss of $89 million. However, the specific comparison to the previous year's loss of $139.6 million (a 36% narrowing) is not corroborated by a second independent source in the provided evidence.
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wikipedia NEUTRAL — The following is a timeline of the second presidency of Donald Trump during the first quarter of 2025. The timeline begins with Trump's January 20, 2025 inauguration as the 47th president of the Unite…
https://en.wikipedia.org/wiki/Timeline_of_the_second_Trump_p…
menu_book
wikipedia NEUTRAL — Ajman Free Zone (AFZA) (Arabic: منطقة عجمان الحرة) is a free trade zone and one of the designated freezones located in Ajman, United Arab Emirates (UAE). First established in 1988, it is one of a numb…
https://en.wikipedia.org/wiki/Ajman_Free_Zone
menu_book
wikipedia NEUTRAL — Snap Inc. is an American technology company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown, based in Santa Monica, California. The company developed and maintains tech…
https://en.wikipedia.org/wiki/Snap_Inc.
+ 3 more evidence sources
help
“Global daily active users, or DAU, rose 5% year over year”
INSUFFICIENT EVIDENCE
No evidence was found after searching for this specific claim.
help
“The company said in February that its global DAU declined by 3 million quarter over quarter due to reduced marketing spending and the impact of Australia's social media minimum age act”
INSUFFICIENT EVIDENCE
No evidence was found after searching for this specific claim.
schedule
“Snap said second-quarter sales will be in the range of $1.52 billion to $1.55 billion”
PENDING
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“referring to the $400 million deal it announced in November with the generative AI startup”
PENDING
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“Snap shares jumped 15% after the company revealed the Perplexity deal as part of its third-quarter earnings”
PENDING
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“Tech newsletter Sources first reported that Snap's deal with Perplexity had collapsed”
PENDING
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“The company said in April that it would lay off about 16% of its workforce and no longer hire for 300 open positions”
PENDING
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“Pinterest reported its latest quarterly earnings on Monday that beat on the top and bottom lines”
PENDING
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“Reddit revealed last Thursday its first-quarter earnings in which revenue for the period soared 69% year over year to $663 million”
PENDING
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“CEO Steve Huffman told analysts marked seven straight quarters in which sales growth was over 60%”
PENDING
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“Meta and Alphabet also reported their most recent quarterly earnings last Wednesday in which they both beat on sales”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.