Overview
- Reddit shares rose 16% in premarket trading Friday following the company's above‑consensus revenue outlook.
- The company posted Q1 revenue of $663 million and earnings of $1.01 per share, topping Wall Street estimates.
- Management projected Q2 sales of $715 million to $725 million and adjusted EBITDA of $285 million to $295 million, both above forecasts.
- Ad revenue reached $625 million for a 74% yearly gain as executives credited AI tools and a 75% rise in active advertisers for stronger campaign results.
- Daily active users grew 17% to 126.8 million while global ARPU rose to $5.23 with U.S. ARPU at $9.63.