Reddit Stock (RDS) Skyrockets Following Impressive First Earnings Post-IPO: A Comprehensive Analysis
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- Reddit’s stock surged in after-hours trading following its first quarterly report since going public.
- The social media company reported higher than expected revenue and a smaller than anticipated loss.
- “It was a strong start to the year and a milestone quarter for Reddit and our communities as we debuted as a public company,” said Reddit CEO Steve Huffman.
Reddit’s stock soars after its first earnings report since going public, beating revenue expectations and reporting a smaller than expected loss.
Reddit’s First Earnings Report Post-IPO
Reddit, which went public in March, reported a loss of $8.19 per share on sales of $243 million, beating analysts’ expectations of a loss of $8.75 per share on sales of $214 million. The company attributed the significant per-share loss to expenses related to its public offering. Despite this, sales advanced 48% year over year, and Reddit’s stock rose more than 12% in after-... Read the full article for FREE at COINOTAG!
