Reddit Stock Jumps After Earnings. The Wrinkle That Turned a Massive Gain Into a Moderate One.
Reddit stock was up after it reported first-quarter earnings that beat analysts’ expectations, but not as much as it had been immediately after the results. The social media site reported a profit of 13 cents a share, beating forecasts for two cents a share, on sales of $392.4 million, well above expectations for $369.5 million. Daily active users, a closely watched metric, rose to 108.1 million, a 31% increase over the same period last year, and slightly above analyst estimates of 107.3 million.
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