_reddit-shares-surge-11-following-strong-revenue-growth-in-first-quarterly-report-that-surpassed-estimates.jpg "Reddit Shares Surge 11% Following Strong Revenue Growth in First Quarterly Report That Surpassed Estimates from 39 jungle movie mp3 song sudhu tomar jonnongladesh teacher and student xdsei girl school dorido nu09beu0995u09beu09b0 u0986u09acu09beu09b8u09bfu0995 u09b9u09cbu099fu09c7u09b2u09c7u09b0 u09aeu09c7u09dfu09c7u09a6u09c7u09b0 u099bu09acu09bfu09b9u09bfu09b2u09beu09a6u09c7u09b0 u09acu09a1u09bc u09aau09beu099bu09beu09b0 u099bu09acu09bfu09b0u09bfu09a8u09be Video Screenshot Preview")
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✓ Published: 09-May-2024
👁 View: 1.7M times
✓ Published: 09-May-2024
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Social media platform Reddit released its first quarterly report since going public in March. Reddit reported revenue of over $240 million, up 48% year-over-year and beating analyst estimates. Advertising revenue grew 39%, faster than competitors like Meta, Amazon and Alphabet. The company reported a net loss of over $575 million, with stock-based compensation expenses driving red ink. Reddit had over 82 million daily active users in the first quarter, up from estimates and a sign of continued engagement growth. Shares surged 11% in pre-market trading following the strong earnings report.
Social media platform Reddit released its first quarterly report since going public in March. Reddit reported revenue of over $240 million, up 48% year-over-year and beating analyst estimates. Advertising revenue grew 39%, faster than competitors like Meta, Amazon and Alphabet. The company reported a net loss of over $575 million, with stock-based compensation expenses driving red ink. Reddit had over 82 million daily active users in the first quarter, up from estimates and a sign of continued engagement growth. Shares surged 11% in pre-market trading following the strong earnings report.
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