A source close to the star confirmed the news to PEOPLE, saying: 'It was never going to be a long-term thing'.
The Beauty and the Beast and former Harry Potter star were first seen in public together in March last year and were previously spotted leaving a Vanity Fair Oscars party together.
As for how they met, the source revealed: 'They met through friends, they might seem like an odd match but they actually have very similar personalities.'
Emma has since unfollowed Chord on Instagram but he is still following her.
The pair has not yet made an official comment on the situation.