_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 the trade marks act 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: 2.4M times
✓ Published: 09-May-2024
👁 View: 2.4M 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
_the-scotsman-bulletin-friday-may-10-2024-sport-spfl-oldfirm.webp "Scotsman deputy editor Alan Young catches up with sports editor Mark Atkinson to look at the weekends sporting fixtures")
_la-fia-es-un-desastre-necesita-un-reglamento-nuevo-inconsistencias-con-las-sanciones-todos.webp "Motorsport Planet")
⏲ 12 minutes 28 seconds 👁 4K
_china39s-xi-in-europe-what39s-his-agenda-124-dw-news.webp "DW News")
_young-sheldon-reveals-george39s-long-awaited-fate-as-series-finale-nears.webp "In the recent episode of \")
_mas-problemas-newey-no-est-nada-contento-por-qu-el-juego-estrategico-de-audi-f1.webp "Racing Team")
⏲ 14 minutes 34 seconds 👁 3.8K
_sussex-world-daily-bulletin-124-thursday-may-9-2024.webp "Sussex World's Mark Dunford brings you the latest headlines from across the county")
_how-the-chinese-obsession-with-silver-pioneered-global-trade-124-empires-of-silver-124-silk-road.webp "Silk Road - Asian History Documentaries")
⏲ 58 minutes 7 seconds 👁 562
_how-to-serve-someone-who-can39t-be-found.webp "Brian T. Mayer, Esq.")
_the-scotsman-bulletin-friday-may-10-2024-sport-spfl-oldfirm.jpg)
_la-fia-es-un-desastre-necesita-un-reglamento-nuevo-inconsistencias-con-las-sanciones-todos.jpg)
_china39s-xi-in-europe-what39s-his-agenda-124-dw-news.jpg)
_young-sheldon-reveals-george39s-long-awaited-fate-as-series-finale-nears.jpg)
_mas-problemas-newey-no-est-nada-contento-por-qu-el-juego-estrategico-de-audi-f1.jpg)
_sussex-world-daily-bulletin-124-thursday-may-9-2024.jpg)
_how-the-chinese-obsession-with-silver-pioneered-global-trade-124-empires-of-silver-124-silk-road.jpg)
_how-to-serve-someone-who-can39t-be-found.jpg)
![[+]](/images/menu.gif){kind=small}