Reported 2 months ago
Reddit projected its third-quarter revenue to surpass Wall Street estimates, signaling a recovery in the digital advertising market, with expected earnings between $290 million and $310 million. Despite a drop in share price due to investor reactions and analyst concerns about user revenue growth, the company reported a 54% increase in second-quarter revenue to $281.2 million year-over-year and a significant boost in its daily active users. Reddit is focusing on enhancing its platform's value to advertisers through strategic partnerships and AI-driven content recommendations.
Source: YAHOO