Shares of Reddit (RDDT) jumped in after-hours trading. The social media enterprise reported first quarter revenue of $243 million versus estimates of $211.9 million. Daily active users were 82.7 million versus the 77.35 million estimate and average revenue per user was $2.94 compared to expectations of $2.75.
What sent shares soaring however was the second quarter outlook. Reddit sees 2Q revenue in a range of $240 million to $255 million. The estimate was $228 million. The enterprise sees 2Q Adjusted Ebitda in a range $0 to $15 million compared to the expectation of a $13 million loss.
Yahoo money management’s Josh Lipton and and Jared Blikre break down the report
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