Reported about 1 year ago
Reddit, the well-known online forum media, released its first-quarter financial report on May 7, marking its first report since going public in March. The CEO Steve Huffman expressed optimism in attracting users and advertisers to the platform, leading to a surge in Reddit's stock price challenging the initial high after the IPO. With advantageous financial results and Huffman's positive outlook on ad performance, Reddit's stock price rose by 10% on May 17, nearing its previous record high. Huffman emphasized Reddit's commercial nature and potential for digital ad business growth by diversifying ad revenue streams and investing in AI and search technologies to further enhance user experience.
Source: YAHOO