Reddit reported over $500 million quarterly loss, mainly due to stock-based compensation expenses from IPO, but displayed significant revenue and user growth.
Revenue was $243 million in the first quarter, up 48 percent year-over-year, surpassing Wall Street estimates; net loss was $575.1 million with daily active users reaching 82.7 million.
Reddit's successful IPO marked a new chapter, becoming a litmus test for tech IPOs; shares traded 48% above IPO price, signaling investor confidence.
Reddit diversifies beyond digital advertising by licensing conversation data, partnering for AI, and exploring e-commerce, projected revenue of $240-255 million.
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