_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 ck net 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: 175K times
✓ Published: 09-May-2024
👁 View: 175K 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
_louis-ck-flying-and-cell-phones.webp "2Funny2Share")
_uber-beats-revenue-estimates-sees-robust-demand-and-consumer-spending-shifts-fueling-marketplace-expansion.webp "Uber reported first-quarter revenue of over $10 billion, beating estimates but posting a wider net loss. Gross bookings slightly missed forecasts, though mobility bookings grew 25% and delivery 18% year-over-year. Monthly active platform consumers were up 15% from a year ago. The company cited robust demand and consumer spending shifts supporting its marketplace. Uber aims to boost penetration in core services and expand into new segments to drive user growth. Shares fell over 6% in Wednesday's premarket trading.")
⏲ 0:38 👁 225K
_victor-auraspeed-90k-metallic-review-is-it-an-upgrade-for-the-auraspeed-90k.webp "CK Yew")
⏲ 8 minutes 2 seconds 👁 701
_louis-ck-124-about-airplane-wi-fi.webp "Videos Today")
_clip-from-louis-cks-new-special.webp "Louis C.K.")
_vlad-and-niki-pretend-play-with-toy-microwave.webp "Vlad and Niki")
_ubs-bounces-back-with-strong-first-quarter-profit-fueled-by-wealth-management-success.webp "UBS reported a return to profit in the first-quarter after losses in the previous two quarters, beating analyst estimates. Profits were boosted by higher revenues in its flagship wealth management division, which rose 28%. Expenses fell and consolidation benefits from the Credit Suisse takeover in June 2023 contributed to the $1.8 billion net profit. UBS expects to complete merging its US entities with Credit Suisse in the second quarter and Swiss entities in the third quarter. CEO Sergio Ermotti said integration progress was good, and the bank had returned to profitability and underlying strength.")
_comedians-defend-louis-c-k.webp "aNewKingdom")
_louis-ck-flying-and-cell-phones.jpg)
_uber-beats-revenue-estimates-sees-robust-demand-and-consumer-spending-shifts-fueling-marketplace-expansion.jpg)
_victor-auraspeed-90k-metallic-review-is-it-an-upgrade-for-the-auraspeed-90k.jpg)
_louis-ck-124-about-airplane-wi-fi.jpg)
_clip-from-louis-cks-new-special.jpg)
_vlad-and-niki-pretend-play-with-toy-microwave.jpg)
_ubs-bounces-back-with-strong-first-quarter-profit-fueled-by-wealth-management-success.jpg)
_comedians-defend-louis-c-k.jpg)
![[+]](/images/menu.gif){kind=small}