Reported 27 days ago
Reddit Inc. shares skyrocketed over 40% on Wednesday, hitting a record high after the company reported quarterly sales of $348.4 million, exceeding expectations. This marks the social network's first profitable quarter since its IPO in March. The strong performance is attributed to its investments in advertising technology and successful strategies to attract business clients. With optimistic projections for holiday sales, Reddit continues to enhance its advertising offerings and explore partnerships with AI firms.
Source: YAHOO