Snap CEO Evan Spiegel Presley Ann/Getty Images Share on Facebook Share on X Share to Flipboard Send an Email Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Print the Article Post a Comment Snapchat owner Snap handily beat Wall Street expectations in Q3, and announced a surprise AI deal: a $400 million agreement with Perplexity that will integrate its conversational search into the app. Snap said that it now reaches 943 million monthly active users, up 7 percent year over year, as the company closes in on the billion user mark. Revenue grew 10 percent to $1.51 billion, with $182 million of Adjusted EBITDA and $93 million of free cash flow. The company reported a net loss of $104 million, a substantial improvement from the same quarter a year earlier. As for that Perplexity deal: The AI company will pay $400 million in a mix of cash and stock, and Perplexity will begin integrations early next year, with the company teasing more deals: "This is the first step in our effort to make Snapchat a platform where leading AI companies can connect with our global community in creative and trusted ways." "Our focus on performance, creativity, and simplicity is helping advertisers achieve stronger results while giving our community more ways to communicate," said Evan Spiegel, Snap's CEO. "I'm proud of the team's progress and confident that our discipline and innovation will support durable, long-term growth." THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up AMC Theatres AMC Theatres Posts Steep $298 Million Loss, Lower Revenues WWE TKO Raises Guidance and Beats the Street in Q3 After Flurry of Dealmaking THR, Esq Why Does Spotify Keep Recommending Drake? A New Class Action Challenges "Pay-for-Play" Regime IMDB IMDb Adds New Credit Categories for Intimacy Coordination, Voice Acting and Choreography siriusxm Netflix Approaches SiriusXM For Video Podcast Licensing Netflix Netflix Claims 190 Million Ad-Tier Viewers Worldwide Under New Metric AMC Theatres AMC Theatres Posts Steep $298 Million Loss, Lower Revenues WWE TKO Raises Guidance and Beats the Street in Q3 After Flurry of Dealmaking THR, Esq Why Does Spotify Keep Recommending Drake? A New Class Action Challenges "Pay-for-Play" Regime IMDB IMDb Adds New Credit Categories for Intimacy Coordination, Voice Acting and Choreography siriusxm Netflix Approaches SiriusXM For Video Podcast Licensing Netflix Netflix Claims 190 Million Ad-Tier Viewers Worldwide Under New Metric