Reddit Shares Are Rallying Today – Here’s Why
Synopsis
The company said its total revenue came at $726 million, rising 70% in the fourth quarter compared to a year-ago quarter.
Reddit shares jumped in extended hours of trading after it reported a 70% jump in its revenue for the fourth quarter on Thursday, helped by higher ad spend by its customers.
The company said its total revenue came at $726 million, above analysts’ estimates of $667 million, according to data from fiscal.ai.
The company said its Ad revenue also increased 75% year-over-year to $690 million.
“We’re entering the next era of Reddit—defined by sharper execution, global expansion, and product innovation that puts real people and conversations at the center,” said Steve Huffman, Reddit Co-Founder and CEO. “Our focus is on turning Reddit’s authenticity into even more everyday utility.”
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