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Faisal Humayun Khan

Reddit Stock Is an Earnings Season Winner. Investors Thank Advertising Revenue for That.

Reddit Stock RDDT DA Davidson United States

Reddit (RDDT) stock has been on a sharp uptrend over the last month, with a 20% rally. The price action has come following stellar Q1 results that surpassed analyst expectations.

Reddit reported 69% year-on-year revenue growth for Q1 to $663 million, with free cash flows of $311 million for the period. The surge in revenue was backed by a 74% year-over-year growth in advertising revenue to $625 million. At the same time, daily active unique users increased by 17% to 126.8 million.

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One subscription that gives you access to news from hundreds of sites

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Knicks champion Karl-Anthony Towns opens up about grief for World Mental Health Day

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