an outlook. Analysts are broadly positive on the report, which showed a profit hit from a US tax change. Qualcomm took a $5.7 billion writedown in period, which contributed to a $3.12 billion net loss. Other tech companies have recently reported hefty one-time charges from tax adjustments, including Meta Platforms Inc.
- Shares of Snap Inc. (SNAP) soared ahead of the US market open, after the company announced a $400 million partnership with Perplexity AI to incorporate its AI-powered search engine into its flagship Snapchat app. The deal gives Snap a new business line and puts the social messaging company more squarely into the mix around AI chatbots and assistants. Perplexity’s answer-engine will be integrated into Snapchat’s Chat interface beginning in 2026, according to Snap Chief Executive Officer Evan Spiegel, though the company’s existing My AI chatbot will also be available to users.
- Duolingo (DUOL) shares plunged in early trading after the company posted fourth-quarter bookings that trailed estimates. The language-learning company sees bookings in a range of $329.5 million to $335.5 million, while analysts estimated a midpoint of $344.1 million. Fourth-quarter revenue was in line with expectations and the company boosted its revenue guidance for the year as users pay more to chat with AI bots. Duolingo now expects revenue growth of 38% for the year at the midpoint. This is above its previous outlook and Wall Street’s estimated 36% rise. Paid subscribers came in slightly higher than estimates.