US Stock Market Move | Double good news boosts! Snap Inc (SNAP.US) surges more than 18%.

On Thursday, Snap Inc (SNAP.US) surged over 18%, closing at $8.63. Snap's third-quarter revenue increased by 10% year-on-year to $1.51 billion, slightly higher than analysts' expectations. Thanks to restructuring and cost control measures, the net loss narrowed to $104 million, compared to a net loss of $153 million in the same period last year; much better than analysts' expectations of over $200 million in losses. Snap expects fourth-quarter revenue to be between $1.68 billion and $1.71 billion, with the midpoint of $1.695 billion slightly higher than Wall Street's expectation of $1.69 billion. The company also revealed that adjusted EBITDA for the fourth quarter is expected to be between $280 million and $310 million, exceeding StreetAccount's forecast of $255.4 million. Additionally, on Wednesday, Snap announced a $400 million partnership agreement with AI startup Perplexity. Perplexity will pay $400 million through a combination of cash and stock within a year, starting in 2026, to secure significant display positions in the Snapchat app. This deal opens up a new revenue source for Snap, as the company's advertising business growth has been previously squeezed by well-funded competitors like Meta.