_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 bangla movie song mini net wwwu09beu0987u0995u09be u09aeu09beu09b9u09bfu09b0 u0996u09beu09b0u09beu09aa u099au09cbu09a6u09be u099au09c1u09a6u09bf video xu099au09c1u09a6u09be u09aeu09beu09aeu09bfu0982u09b2u09be u09a6u09c7u09beu0995u09bfu09b8u09a4u09beu09a8u09bf u09aeu09c7u09dfu09c7u09a6u09c7u09b0 comu09beu09b0u09a4u09c0u09afu09bc u09acu09beu0982u09b2u09bex u09a8u09beu0987u0995u09be u0995u09cbu09afu09bcu09c7u09b2 u09aeu09b2 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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