_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 feast market Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:43
👁 View: 2.7M times
✓ Published: 09-May-2024
👁 View: 2.7M times
✓ Published: 09-May-2024
Description:
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.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_share-market-opening-live-124-stock-market-live-news-124-business-news.webp "- Global news flow & cues<br/>- Stocks to watch, trade setup<br/>- F&O strategies<br/><br/><br/>Agam Vakil and Tamanna Inamdar bring all this and more as we head toward the 'India Market Open'.<br/><br/>")
_strathalbyn-cattle-market.webp "Ben Dickenson, Strathalbyn cattle market, May 3, 2024")
_eam-s-jaishankar-on-india-capital-markets-124-ndtv-profit.webp "External Affairs Minister S Jaishankar talks about India’s capital markets at #NSE. #NDTVPofitLive<br/><br/><br/>For the latest news and updates, visit: ndtvprofit.com")
_intel-qualcomm-export-licenses-revoked-by-us-tech-giants-won39t-be-able-to-sell-chips-to-huawei-report.webp "The United States has revoked the export licenses of Intel and Qualcomm to sell chips to China’s Huawei Technologies.")
⏲ 0:45 👁 405K
_nifty-sensex-fall-124-india-market-close-124-ndtv-profit.webp "#Nifty, #Sensex fall as #HDFCBank, #ICICIBank, #HUL drag.<br/><br/><br/>Niraj Shah and Tamanna Inamdar dissect key market trends and explore what's to come tomorrow. #NDTVProfitLive #NDTVProfitMarkets<br/><br/>")
_bally-bet39s-strategy-in-sports-betting-market-detailed.webp "Bally Bet's Strategy in Sports Betting Market Detailed from feast market")
_fabulous-feasts-episode-7.webp "Andi Oliver’s Fabulous Feasts episode 7")
_market-vendors-vs-mrcrc.webp "A small group of market vendors who ply their tradedaily at the Rio Claro market have been temporarily displaced as the corporation undertakes a thorough cleaning of the facility.<br/><br/><br/>The vendors told our reporter Cindy Raghubar-Teekersingh on Monday that they were promised tents to operate from, for the duration of the exercise.<br/><br/><br/>However, when they turned up at the market this morning, no tents were to be found.")
_share-market-opening-live-124-stock-market-live-news-124-business-news.jpg)
_strathalbyn-cattle-market.jpg)
_eam-s-jaishankar-on-india-capital-markets-124-ndtv-profit.jpg)
_intel-qualcomm-export-licenses-revoked-by-us-tech-giants-won39t-be-able-to-sell-chips-to-huawei-report.jpg)
_nifty-sensex-fall-124-india-market-close-124-ndtv-profit.jpg)
_bally-bet39s-strategy-in-sports-betting-market-detailed.jpg)
_fabulous-feasts-episode-7.jpg)
_market-vendors-vs-mrcrc.jpg)
![[+]](/images/menu.gif){kind=small}