Reddit Swings to 1Q Profit on Higher Revenue, Growth in Daily Active Users

Dow Jones
昨天

By Kelly Cloonan

 

Reddit logged higher revenue and swung to a profit in the first quarter as advertising revenue rose on higher impressions and prices.

The social media company on Thursday swung to a profit of $26.2 million, or 13 cents a share, from a loss of $575.1 million, or $8.19 a share, a year earlier.

Analysts expected earnings of 2 cents a share according to FactSet.

Revenue rose 61% to $392.4 million. Analysts expected $369.5 million.

Advertising revenue rose 61% to $358.6 million on higher impressions and prices, the company said.

Reddit's daily active users climbed 31% to 108.1 million, slightly above analyst expectations of 107.3 million. Average revenue per unique rose to $3.63.

For the second quarter, Reddit expects revenue of $410 million to $430 million, above analyst expectations for $391.8 million according to FactSet.

Shares rose 17% to $139.50 in after-hours trading.

 

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 01, 2025 16:58 ET (20:58 GMT)

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