• 2 months ago
Reddit shares surged 22% in after-hours trading, exceeding $100 per share, following strong third-quarter earnings that outperformed analyst expectations. Reddit exceeded analyst expectations with a profit per share and revenue that outpaced forecasts. Daily active users and revenue per user both surpassed analyst expectations. The platform benefited from Google search updates that have attracted new, albeit less profitable, logged-out users. The stock has nearly tripled in value since going public.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Reddit shares surged 22% in after-hours trading, exceeding $100 per share following strong
00:07third-quarter earnings that outperformed analysts' expectations.
00:11Reddit exceeded analysts' expectations with a profit per share and revenue that outpaced
00:16forecasts.
00:17Daily active users and revenue per user both surpassed analysts' expectations.
00:22The platform benefited from Google search updates that have attracted new, albeit less
00:26profitable logged out users.
00:29The stock has nearly tripled in value since going public.
00:31For all things money, visit Benzinga.com slash GSTV.

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