Reported 3 days ago
Reddit's stock surged over 17% after the company reported a second quarter revenue of $500 million, marking a 78% increase and exceeding Wall Street expectations. Daily active users reached 110.4 million globally, with growing popularity in its AI search tool, Reddit Answers. CEO Steve Huffman highlighted significant opportunities in data licensing, especially with recent deals with Google and OpenAI. Looking ahead, Reddit anticipates third quarter revenues between $535 million and $545 million, well above analyst estimates.
Source: YAHOO