Reddit reports 69% jump in revenue, topping analyst estimates
Summary
Reddit reported Q1 results well above expectations, with revenue up 69% year over year to $663 million and EPS $1.01, beating estimates. The company guided Q2 revenue to $715-725 million and adjusted earnings to $285-295 million, also above consensus. Data licensing revenue rose, and Reddit highlighted partnerships with Google and OpenAI; DAUq rose 17% YoY to 126.8 million, with US DAUq at 53.5 million. The results reinforce a capital-light, ad-driven model in a high-growth online advertising landscape.