Reddit posts 69% jump in revenue, topping analyst estimates
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Reddit reported better-than-expected profit and revenue in its first-quarter earnings report on Thursday, and also issued an optimistic forecast.
Key facts
Reddit said second-quarter sales should be in the range of $715 million to $725 million, ahead of analyst estimates of $712 million
The company's U.S.-specific ARPU came in at $9.63, ahead of the $8.53 that Wall Street was projecting
Average revenue per user, or ARPU, was $5.23, topping analyst estimates of $4.81
Reddit's global daily active unique users, or DAUq, rose 17% year-over-year to 126.8 million for the quarter, ahead of analyst estimates of 125.9 million
Summary
Earnings per share: $1.01 vs. 58 cents expected. Revenue jumped 69% in the quarter from $392 million a year earlier, Reddit said in an earnings release. Reddit said second-quarter sales should be in the range of $715 million to $725 million, ahead of analyst estimates of $712 million. The strong results continue a trend in online advertising.