• Home
  • News
  • Apps
  • Guides
  • Tech
  • Gaming
  • Apple
  • Mobile
  • Windows
  • Hardware

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Apple Expands App Retailer Age Score System With Extra Granular Classes

OTT Releases This Week (July 21 – July 27): Mandala Murders, Ronth, Rangeen, and Extra

Sundar Pichai hits $1.1 billion internet value as Alphabet’s AI-led surge provides over $1 trillion in worth

Facebook Twitter Instagram
Tech Crowder
  • Home
  • News
  • Apps
  • Guides
  • Tech
  • Gaming
  • Apple
  • Mobile
  • Windows
  • Hardware
Facebook Twitter Instagram
Tech Crowder
Home»Latest Posts»Reddit (RDDT) Q1 2024 earnings
Latest Posts

Reddit (RDDT) Q1 2024 earnings

Rudra SharmaBy Rudra SharmaUpdated:No Comments3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
Reddit (RDDT) Q1 2024 earnings
Share
Facebook Twitter LinkedIn Pinterest Telegram Email

Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins buying and selling on the New York Inventory Change (NYSE) in New York on March 21, 2024. 

Timothy A. Clary | AFP | Getty Photographs

Advertisement

Reddit shares rallied in prolonged buying and selling on Tuesday after the corporate launched quarterly outcomes for the primary time since its IPO in March.

Here is how the corporate did:

  • Loss per share: $8.19 loss per share. That won’t examine with the $8.71 loss anticipated by LSEG
  • Income: $243 million vs. $212.8 million anticipated by LSEG

Income climbed 48% from $163.7 million a 12 months earlier. The corporate reported $222.7 million in advert income for the interval, up 39% 12 months over 12 months, which is a quicker charge of development than at its prime opponents.

Digital promoting firms have began rising once more at a wholesome clip after manufacturers reeled in spending to deal with inflation in 2022. Meta‘s advert income jumped 27% within the first quarter, adopted by 24% development at Amazon and 13% development at Google mum or dad Alphabet.

Reddit reported a internet lack of $575.1 million. Inventory-based compensation bills and associated taxes had been $595.5 million, primarily pushed by IPO costs.

For the second quarter, Reddit expects income of $240 million to $255 million, topping the $224 million anticipated by analysts, in accordance with LSEG. The midpoint of the steering vary suggests development of about 32% for the second quarter, up from $183 million from a 12 months earlier.

Reddit, which hosts hundreds of thousands of on-line boards on its platform, was based in 2005 by Alexis Ohanian and Steve Huffman, the corporate’s CEO. 

“We see this as the start of a brand new chapter as we work in the direction of constructing the following technology of Reddit,” Huffman stated in a launch Tuesday.

Reddit started buying and selling underneath the ticker image “RDDT” on the New York Inventory Change in March. The corporate priced its IPO at $34 per share, which valued the corporate round $6.5 billion. When tech valuations had been crimson scorching in 2021, Reddit’s non-public market valuation reached $10 billion.

The inventory climbed previous $58 in after-hours buying and selling on Tuesday.

The corporate reported 82.7 million every day energetic customers for its first quarter, up from the 76.6 million anticipated by StreetAccount. Common income per consumer worldwide rose 8% to $2.94 from $2.72 a 12 months in the past.

Reddit will maintain its first quarterly name with traders at 5 p.m. ET.

Advertisement
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Rudra Sharma
  • Website

Techcrowder is an imprint of Authority Media dedicated to consumer electronics and digital services. Beyond our expertise in mobile tech, our coverage has expanded to include everything from robot vacuums to streaming services to innovations in artificial intelligence.

Related Posts

Sundar Pichai hits $1.1 billion internet value as Alphabet’s AI-led surge provides over $1 trillion in worth

CoreWeave broadcasts $1.5 billion bond sale

Mark Zuckerberg’s Meta recruits two key Apple AI engineers after luring staff chief

Joby Aviation says it’s doubling manufacturing manufacturing

Amazon Prime Day Sale 2025: Greatest earphones and headphone offers with as much as 70% off

Perplexity launches AI-powered net browser for choose subscribers

Leave A Reply Cancel Reply

Advertisement
Recent Posts
  • Apple Expands App Retailer Age Score System With Extra Granular Classes
  • OTT Releases This Week (July 21 – July 27): Mandala Murders, Ronth, Rangeen, and Extra
  • Sundar Pichai hits $1.1 billion internet value as Alphabet’s AI-led surge provides over $1 trillion in worth
  • WhatsApp for Android Stated to Be Testing Actual-Time Voice Chats With Meta AI
  • Google I/O Join India 2025: Eight Indian Startups Showcased Functions Constructed With Google’s AI Fashions
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Apps

Apple Expands App Retailer Age Score System With Extra Granular Classes

Apple’s App Retailer age ranking system is getting an overhaul, the corporate introduced on Thursday.…

OTT Releases This Week (July 21 – July 27): Mandala Murders, Ronth, Rangeen, and Extra

Sundar Pichai hits $1.1 billion internet value as Alphabet’s AI-led surge provides over $1 trillion in worth

WhatsApp for Android Stated to Be Testing Actual-Time Voice Chats With Meta AI

Advertisement
Latest Posts

Apple Expands App Retailer Age Score System With Extra Granular Classes

OTT Releases This Week (July 21 – July 27): Mandala Murders, Ronth, Rangeen, and Extra

Sundar Pichai hits $1.1 billion internet value as Alphabet’s AI-led surge provides over $1 trillion in worth

WhatsApp for Android Stated to Be Testing Actual-Time Voice Chats With Meta AI

Google I/O Join India 2025: Eight Indian Startups Showcased Functions Constructed With Google’s AI Fashions

Child and Child Now Streaming on Aha Tamil: Know Every thing about Solid, Crew, Plot, and extra

Dude OTT Launch Reportedly Revealed On-line: What You Must Know About Pradeep Rangathan Starrer Film

Netflix Reportedly Testing Runway’s AI Video Instruments in Content material Manufacturing

Categories
  • Apps
  • Entertainment
  • Gadgets
  • Gaming
  • Latest Posts

Apple Expands App Retailer Age Score System With Extra Granular Classes

OTT Releases This Week (July 21 – July 27): Mandala Murders, Ronth, Rangeen, and Extra

Sundar Pichai hits $1.1 billion internet value as Alphabet’s AI-led surge provides over $1 trillion in worth

WhatsApp for Android Stated to Be Testing Actual-Time Voice Chats With Meta AI

Recent Posts
  • Apple Expands App Retailer Age Score System With Extra Granular Classes
  • OTT Releases This Week (July 21 – July 27): Mandala Murders, Ronth, Rangeen, and Extra
  • Sundar Pichai hits $1.1 billion internet value as Alphabet’s AI-led surge provides over $1 trillion in worth
  • WhatsApp for Android Stated to Be Testing Actual-Time Voice Chats With Meta AI
  • Google I/O Join India 2025: Eight Indian Startups Showcased Functions Constructed With Google’s AI Fashions
Pages
  • About Us
  • Contact Us
  • Disclaimer
  • Homepage
  • Privacy Policy
© 2022 Techcrowder.com
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.

Like Us
Follow Us
Subscribe Us
Follow Us