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Comment from $SNAP company after their "negative" results as usual and the stock drops 10%:
We ended our partnership with Perplexity amicably during the first quarter
We expect restructuring costs between $95 million and $130 million during the current quarter
The advertising market is recovering "early and unbalanced," especially in North America
We expect next quarter revenues between $1.52 billion and $1.55 billion
We aim to reduce annual costs by more than $500 million starting from the second half of 2026
Daily active users have returned to growth, reaching 483 million daily users
Net loss improved to $89 million with free cash flow of $286 million
Watch time in Spotlight increased 11% annually, and more than 75% of users use augmented reality technologies daily
Snap Map service reached over 450 million monthly global users
Revenue from Dynamic Product Ads increased by more than 30%, and App Purchases revenue grew 87% annually
Major advertisers in North America are "the weak point, performance is gradually improving...
$BTC #BTCPullback