Snap Q1 2026: Iran war costs $20-25M monthly in ad revenue, Perplexity $400M deal ends, 16% workforce cut as AR glasses bet intensifies

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Snap Q1 2026: Iran war costs $20-25M monthly in ad revenue, Perplexity $400M deal ends, 16% workforce cut as AR glasses bet intensifies

Snap's Q1 revenue grew 12% but stock fell 4%. Iran war cost $20-25M in March ad revenue. Perplexity AI deal ended. 1,000 jobs cut. Specs AR glasses launch is the last bet.

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Snap Q1 2026: Iran war costs $20-25M monthly in ad revenue, Perplexity $400M deal ends, 16% workforce cut as AR glasses bet intensifies