** Shares of Snap SNAP.N down ~9% at $5.58 premarket

** Company says on Wednesday first-quarter ad revenue was impacted by the conflict in the Middle East and slowing growth in North America

** Expects second-quarter revenue of $1.52 billion to $1.55 billion, in line with estimates

** Snap, AI startup Perplexity end $400 million deal
** Company reported 483 million daily active users in first quarter, adding 9 million from the prior quarter; but DAUs in North America declined, while revenue growth in the region slowed to 2%

** "We like the subscription growth but still looking for a path to more durable reacceleration for ads before we can get constructive," RBC Capital Markets says

** Avg rating of 44 analysts is "hold"; their median PT is $7.65 - LSEG-compiled data

** Up to last close, stock down ~24% YTD