Reddit reported first-quarter earnings and revenue that exceeded Wall Street expectations.
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reported better-than-expected profit and revenue in its first-quarter earnings report on Thursday, and also issued an optimistic forecast. The stock jumped 6% in extended trading.
Here’s how the company did compared with LSEG estimates:
Revenue jumped 69% in the quarter from $392 million a year earlier, Reddit said in an earnings release. Net income soared to $204 million, or $1.01 per share, from $26 million, or 13 cents per share, a year ago.
The company's sales grew 78% year-over-year in the second quarter and was 17% above consensus estimates, representing the biggest…
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Loop Capital sees shares of Reddit rallying 83% from their current levels.
