Shares of online community and discussion platform Reddit (NYSE:RDDT) jumped 22.1% in the morning session after the company posted record-breaking second-quarter revenue and provided a strong forecast for the upcoming quarter. The social media platform's revenue jumped 78% year-over-year to $500 million, soundly beating Wall Street's expectations. Earnings per share landed at $0.45, more than doubling the forecasted amount. The company's user base also expanded, with daily active users growing 21% to 110.4 million. This performance was fueled by an 84% surge in advertising revenue and growth from data licensing deals. Looking ahead, Reddit projected third-quarter revenue well above consensus estimates, prompting analysts at Morgan Stanley to raise their price target on the stock.
Reddit shares are trading higher Friday after the company reported better-than-expected second quarter financial results and issued third quarter sales guidance above estimates on Thursday after the market closed.
Shares of Reddit Inc (NYSE: RDDT) surged on strong Q2 results and upbeat guidance, with analysts noting increased user traction and potential for profitability by 2025.
As we await the opening of the US market on Friday, let's delve into the pre-market session and discover the top gainers and losers shaping the early market sentiment.
Reddit Inc. surged 17.82% in after-hours trading on Thursday after reporting second-quarter results that crushed Wall Street expectations and issued bullish third-quarter guidance.
Online community and discussion platform Reddit (NYSE:RDDT) reported revenue ahead of Wall Street’s expectations in Q2 CY2025, with sales up 77.7% year on year to $499.6 million. On top of that, next quarter’s revenue guidance ($540 million at the midpoint) was surprisingly good and 14.2% above what analysts were expecting. Its GAAP profit of $0.45 per share was significantly above analysts’ consensus estimates.
Shares of online community and discussion platform Reddit (NYSE:RDDT) jumped 6.7% in the afternoon session after investors reacted to a broader technology sector rally, which was fueled by strong earnings from artificial intelligence (AI) leaders Meta and Microsoft. The broader technology sector received a boost after industry giants Meta and Microsoft announced impressive quarterly results. Their success signaled surging demand for artificial intelligence capabilities, creating a positive wave across the market. This optimism lifted Reddit's shares as investors looked ahead to the company's own second-quarter financial results, scheduled for release after the market closed. Analysts anticipated Reddit would report significant year-over-year revenue growth of around 50%, setting high expectations for the social media firm's performance.
Give the answer as a plain text string, without double quotes:Amazon will pay NYT $20-25M annually for licensing deal, shows value of journalism in AI era. Similar pacts by OpenAI, Google, and Reddit.
Australia has reversed course and added YouTube to its under-16 social media ban, citing child safety concerns and aligning it with platforms like TikTok, Facebook and Instagram.
Online community and discussion platform Reddit (NYSE:RDDT) will be reporting results this Thursday after market close. Here’s what investors should know.
