After posting its Q1 earnings report, Reddit's stock surged by 19%, indicating a positive response to its substantial revenue growth of 61% year-over-year, totaling $392.4 million. This marks the third consecutive quarter of over 60% growth. CEO Steve Huffman highlighted the platform's resilience against algorithm changes from Google, which previously caused traffic volatility. Despite challenges, he asserted that Reddit's unique content and community aspects position it well for meeting evolving user needs, emphasizing a commitment to addressing diverse viewpoints amid the ongoing evolution of search technologies.
Reddit's stock surged as much as 19% after posting a strong Q1 earnings report with a 61% revenue increase year-over-year, marking sustained growth.
CEO Steve Huffman noted that while short-term disruptions from Googleâs algorithm changes are expected, Reddit's long-term strategy remains unaffected by these changes.
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