Reported about 22 hours ago
Reddit's recent revenue forecast for the second quarter exceeds Wall Street estimates, highlighting a positive outlook for digital advertising on the platform despite marketing budget uncertainties. The company's shares initially surged after CEO Steve Huffman acknowledged potential disruptions from Google search changes. However, Reddit is successfully attracting advertisers, particularly with its unique ad format within discussions. The company anticipates revenue between $410 million and $430 million, well above analyst expectations, driven by a 61% growth in the previous quarter and a significant rise in active advertisers.
Source: YAHOO