Reddit reported earnings for the second time as a public company. Revenue topped analysts' estimates, and the company's loss was narrower than analysts expected.
Shares of Reddit Inc. were down 0.6% on Monday afternoon ahead of the social-media platform's second-ever quarterly earnings report as a public company on Tuesday.
Reddit (RDDT) made its first acquisition since its initial public offering earlier this year, the social-media company on Thursday announcing that it had purchase advertising technology company Memorable AI.
In today's digital era, social media stocks emerge as a strong investment avenue for investors seeking long-term returns. Social media is no novelty; some call it a defining characteristic of the 21st century.
Reddit (RDDT) is set to report second-quarter earnings after the bell on Aug. 6, with investors likely watching for user engagement growth and updates on licensing agreements for artificial intelligence (AI) training.
Reddit Inc. (RDDT) closed the most recent trading day at $62.36, moving +0.48% from the previous trading session.
In the most recent trading session, Reddit Inc. (RDDT) closed at $62.06, indicating a -1.41% shift from the previous trading day.
Shares of Reddit (RDDT) jumped Monday, outpacing other social media companies' rising shares to start the week.
Reddit (NYSE: RDDT ) stock is up on Monday after signing new deals with the NFL, the NBA and other sports leagues for more content on its website. This will see sports leagues share a variety of content on the site in an effort to attract more users.
Reddit said on Monday it has struck deals with sports leagues, including the National Basketball Association and the National Football League, in an attempt to boost revenue.
Reddit Inc. (RDDT) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
Reddit stock has delivered a 30% return to shareholders since going public in March, outperforming the S&P 500. Reddit's dual share structure offers an intriguing twist on a concept that has caused concern for investors in the past. We cannot help but wonder about the sustainability of today's valuation, even with robust user growth.