Reddit beat Wall Street expectations for first-quarter revenue and issued stronger-than-expected guidance, according to CNBC. The company reported earnings of 13 cents per share and $392 million in revenue, exceeding analyst expectations. Reddit projected second-quarter revenue between \$410 million and \$430 million, topping Wall Street’s \$396 million estimate. In a letter to investors, the company said it is “well-positioned to meet this moment” amid the U.S.-China trade dispute. Reddit has seen growth from Google search changes and site improvements, bringing in more new and returning users. The company is working to convert logged-out users into logged-in users to boost ad value.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Reddit beat Wall Street expectations for first quarter revenue and issued stronger than expected
00:06guidance, according to CNBC. The company reported earnings of 13 cents per share and $392 million
00:11in revenue, both exceeding analyst expectations. Reddit projected second quarter revenue between
00:17$410 million and $430 million, topping Wall Street's $396 million estimate. A letter to
00:23investors, the company said it is well-positioned to meet this moment amid the U.S.-China trade
00:28dispute. Reddit has seen growth from Google search changes and site improvements, bringing
00:33in more new and returning users. The company is working to convert logged out users into
00:38logged in users to boost ad value.
00:40For all things money, visit Benzinga.com slash GSTV.