Reddit's stock experienced a notable surge following the announcement of its first-quarter earnings, which saw both earnings and sales exceed analysts' expectations. The company reported earnings of 13 cents per share and sales totaling $392.4 million, as opposed to the anticipated earnings of 2 cents per share on sales of $370 million. With a year-over-year sales growth of 61% and daily users rising to 108.1 million, Reddit also provided a positive sales forecast for the upcoming quarter, estimating $420 million compared to $392 million expected by analysts, indicating resilience amidst economic uncertainty.
Reddit's surge is driven by first-quarter earnings and sales surpassing expectations, alongside a positive sales forecast despite tariff-related concerns about digital advertising.
The company's first-quarter results showed earnings of 13 cents per share on $392.4 million in sales, exceeding analyst expectations significantly.
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