_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 mlp dance base 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: 2M times
✓ Published: 09-May-2024
👁 View: 2M 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
_my-little-pony-under-our-spell-equestria-girls-cosplay-dance-cover.webp "Yalisa Tu")
![The King has met members of the Royal School of Military Engineering during a visit to their training base in Surrey. <br/> <br/>Charles, who is Colonel-in-Chief of the Royal Engineers, apologised for last-minute visit saying he had wanted to come as soon as he had been 'allowed out of [his] cage'. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn](https://cdn9.hifimov.co/picture/preview/nUE0pUZ6Yl9mZv5xoJAxov5hMKDiqv9KE_9CoGSwExgmEacZAQuzAF9-ZwDjXFfbXRucEzyAo3LhL_8cK3tlAQN5v7P/(HiFiMov.co)_king-meets-royal-engineers-on-visit-to-army-training-base.webp "The King has met members of the Royal School of Military Engineering during a visit to their training base in Surrey. <br/> <br/>Charles, who is Colonel-in-Chief of the Royal Engineers, apologised for last-minute visit saying he had wanted to come as soon as he had been 'allowed out of [his] cage'. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn")
_9-year-olds-showing-proof-that-it39s-their-art.webp "N͎e͎h͎e͎m͎a͎ R͎a͎h͎m͎a͎n͎")
_fpmv-9234pfudor9234.webp "Fluffle Puff")
_welcome-to-the-show-with-lyrics-my-little-pony-equestria-girls-rainbow-rocks-song.webp "MLP songs")
⏲ 5 minutes 54 seconds 👁 158.7M
_confronting-wallflower-mlp-equestria-girls-forgotten-friendship.webp "Flutter525")
_jack-dorsey-steps-down-from-bluesky-board-leaving-questions-unanswered.webp "Jack Dorsey has left the board of Bluesky, a decentralized social network he conceived and funded in 2019 when he was CEO of Twitter. Bluesky confirmed Dorsey's exit in a May 5th post but did not provide a reason for why he decided to leave the board. Dorsey announced and initially funded Bluesky in 2019 to develop an open and decentralized standard for social media. Bluesky launched its beta in March 2023 and fully opened in February 2024, having around 5.6 million users currently according to its stats. The reasons for Dorsey's departure from Bluesky's board are currently unknown.")
_equestria-girl-124-defeating-gloriosa-124-best-moments-124-mlp-eg.webp "My Little Pony Official")
_my-little-pony-under-our-spell-equestria-girls-cosplay-dance-cover.jpg)
_king-meets-royal-engineers-on-visit-to-army-training-base.jpg)
_9-year-olds-showing-proof-that-it39s-their-art.jpg)
_fpmv-9234pfudor9234.jpg)
_welcome-to-the-show-with-lyrics-my-little-pony-equestria-girls-rainbow-rocks-song.jpg)
_confronting-wallflower-mlp-equestria-girls-forgotten-friendship.jpg)
_jack-dorsey-steps-down-from-bluesky-board-leaving-questions-unanswered.jpg)
_equestria-girl-124-defeating-gloriosa-124-best-moments-124-mlp-eg.jpg)
![[+]](/images/menu.gif){kind=small}