Reddit Shares Soar On First Post-IPO Q1 Results, Strong Q2 Guidance
Portfolio Pulse from Erica Kollmann
Reddit, Inc. (NYSE:RDDT) reported its first post-IPO Q1 results, missing EPS estimates with losses of $8.19 per share but surpassing revenue expectations at $242.963 million. The company saw a significant increase in user traffic and provided strong Q2 revenue guidance, expecting $240 million to $255 million. Shares surged 16.80% after-hours.
May 07, 2024 | 8:30 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Reddit reported its first post-IPO Q1 results with mixed financials but strong user growth and Q2 guidance, leading to a 16.80% surge in after-hours trading.
Despite missing EPS estimates, Reddit's revenue beat and optimistic Q2 guidance, coupled with record user traffic, have positively impacted investor sentiment, leading to a significant after-hours stock price increase. The strong user growth metrics and positive outlook indicate potential for future revenue growth, further bolstering investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100