Snap reported Q1 revenue of $1.53 bn (+12% YoY), beating estimates, with advertising revenue up 3% to $1.24 bn.
The company flagged a $20‑$25 million ad revenue hit from the Middle East conflict and ended its $400 million Perplexity partnership.
Adjusted EBITDA rose to $233.3 million, free cash flow to $286 million, while daily active users grew 5% to 483 million.
Shares fell nearly 10% pre‑market as Q2 revenue guidance of $1.52‑$1.55 bn, slightly below consensus, was announced.