Welcome to our dedicated page for Reddit news (Ticker: $RDDT), a resource for investors and traders seeking the latest updates and insights on Reddit stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Reddit's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Reddit's position in the market.
Reddit, Inc. (NYSE: RDDT) reported strong financial results for the first quarter of 2024. Record user traffic with DAUq up 37% to 82.7 million, revenue increased 48% to $243.0 million. The net loss was driven by IPO expenses, but there was a positive free cash flow of $29.2 million. Adjusted EBITDA was $10.0 million, marking the first profitable Q1. Gross margin improved to 88.6%. Stock-based compensation expenses were higher due to IPO charges.
