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00:02Snap reported first quarter earnings and issued cautious sales guidance, according to CNBC.
00:07The company ended its deal with the AI startup perplexity during the quarter
00:11and warned about a softer advertising environment.
00:15The company reported a loss of five cents per share,
00:18while revenue matched LSEG's estimates of $1.53 billion.
00:23Snap reported 483 million global daily active users,
00:27beating street account estimates of $475.6 million,
00:31while global ARPU of $3.17 missed expectations of $3.20.
00:38Large advertisers in North America remained a drag on first quarter advertising growth,
00:43though the company is beginning to see signs of improvement in that business segment.
00:47Second quarter sales will be in the range of $1.52 billion to $1.55 billion,
00:53right in the midpoint of analyst estimates of $1.54 billion.
00:59Sales guidance assumes no revenue contribution from perplexity
01:03after the companies ended their partnership in the first quarter.
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