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Reddit reports 69% jump in revenue, topping analyst estimates

CNBC·Jonathan Vanian·about 1 month ago
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Steve Huffman, co-founder and CEO of Reddit, speaks during the WSJ Tech Live conference hosted by The Wall Street Journal at the Montage Laguna Beach in Laguna Beach, California, on Oct. 21, 2024. Frederic J. Brown | Afp | Getty Images Reddit 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: Earnings per share: $1.01 vs. 58 cents expected Revenue: $663 million vs. $611 million expected 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. Reddit said second-quarter sales should be in the range of $715 million to $725 million, ahead of analyst estimates of $712 million.…

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