It was a strong start to the year and a milestone quarter for Reddit and our communities as we debuted as a public company... We see this as the beginning of a new chapter as we work towards building the next generation of Reddit.
Reddit outperformed estimates, reporting a revenue increase of 48% to $243 million and daily active users of 82.7 million, exceeding analyst expectations.
The net loss was also less than anticipated, at $575.1 million... stock-based compensation expenses and related taxes were $595.5 million, driven by IPO charges.
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