Reddit Stock Jumps 18% on Strong Earnings, Solid User Growth
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Daily active users, a closely watched metric, rose to 108.1 million, a 31% increase over the same period last year, and slightly above analyst estimates of 107.3 million. Advertising revenue came in at $358.8 million, for a 61% increase over the first quarter of 2024. “Our unique advantage is that people come to Reddit with intent—they’re not just scrolling, they’re also seeking,” CEO Steve Huffman wrote in a shareholder letter along with earnings results.
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