Reddit Inc. delivered strong first-quarter earnings, reporting $663.41 million in revenue—a 69.1% year-over-year increase—and adjusted earnings of $1.01 per share, well surpassing analyst expectations. The company's daily active users for the quarter reached 126.8 million, exceeding projections and contributing to a positive revenue and EBITDA outlook for Q2. These encouraging results prompted a 3.9% rise in Reddit's stock after hours, marking a much-needed rebound after a 35.7% decline since early January.
“RDDT · is slated for release · after Thursday's close · true”
“Reddit · daily active users · first quarter · 126.8 million”
“Reddit · reported daily active users · 126.8 million”
“Reddit · beat estimates for daily active users · 125.9 million”
“Reddit Inc. · reported revenue of · $663.41 million · up 69.1% over the same period last year”
“Reddit · reported first quarter revenue and adjusted EBITDA · topped expectations · true”
“Reddit · reported daily active users · slightly topping Wall Street's estimates · true”
“Reddit · saw improvement in free cash flow · compared to the prior year · true”
“Reddit · has a better than expected revenue and adjusted EBITDA outlook · for the second quarter · true”
“Reddit Inc. · came out with quarterly earnings of · $1.01 per share · beating the Zacks Consensus Estimate of $0.62 per share”
“Reddit Inc. · posted revenues of · $663.41 million · surpassing the Zacks Consensus Estimate by 8.03%”
“Reddit Inc. · has topped · consensus revenue estimates · four times over the last four quarters”