Snap Just Announced a $500 Million Stock Buyback

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.