_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 3d game 240 33d icc cricket games nokia 240x320 bangla অপৠবির্শ্বাস নেংটা বড় দৠধের ছবি com videos ধর রাতের চোদাচদি move tome bor bagobote video songs tomar boke tolona sabena e Video Screenshot Preview")
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✓ Published: 09-May-2024
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✓ 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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