Snap Just Announced a $500 Million Stock Buyback

By Ian Cooper Published Nov 6, 10:23AM EST

Quick Read

Snap (SNAP) reported $1.51B in revenue, beating estimates, and announced a $500M stock buyback program.
Perplexity AI will pay Snap $400M over one year in cash and stock to integrate its AI search engine into Snapchat.
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Shares of Snap (NYSE: SNAP | SNAP Price Prediction) are up just over 15%, or $1.13 a share.

All after the company reported strong revenue that was above expectations, it said it would buy back $500 million worth of stock, and noted that Perplexity AI will pay it $400 million to integrate its AI search features into Snap.

Revenue of $1.51 billion was above estimates of $1.49 billion. Global daily active users jumped to 477 million, as compared to estimates of 476 million.

The company also announced a new partnership with Perplexity, which makes an AI search engine that will be featured on the Snapchat app. In doing so, Perplexity will pay Snap $400 million over a year, which will be split between cash and stock.

Other hot stocks on the move include:

Datadog (NASDAQ: DDOG): Shares of DDOG are up about 22%, or by $34 on the day. All after it beat earnings estimates and raised its full-year 2025 numbers. For the third quarter, DDOG’s EPS of 55 cents beat estimates by nine cents. Revenue of $886 million, up 28.4% year over year, beat by $33.73 million. It also raised its revenue outlook, now expecting to see $3.386 billion to $3.39 billion for the year, as compared to estimates of $3.33 billion.

Planet Fitness (NYSE: PLNT): Shares of PLNT are up about 12%, or by $10.75, on strong earnings. Its EPS of 80 cents beat by six cents. Revenue of $330.3 million, up 13% year over year, beat by $6.87 million. For 2025, PLNT also expects revenue to grow 11% from prior estimates of 10%. It expects adjusted EBITDA to increase 12% from prior estimates of 10%. And it expects adjusted net income to jump 13% to 14% from a prior range of 8% to 9%.

Appian Corporation (NASDAQ: APPN): Shares of APPN are up about 18%, or $5.21 a share, on strong earnings. Its EPS of 32 cents beat by 27 cents. Revenue of $187 million, up 21.4% year over year, beat by $12.84 million. Moving forward, AAPN expects Q4 cloud subscription revenue to grow to between $115 million and $117 million, or a year-over-year growth of 16% to $18%. Total Q4 revenue is expected to range from $187 million to $191 million, which would be growth of about 12% to 15% year over year.

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About the Author Ian Cooper →

Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.

He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.

Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.