Reddit shares soar almost 20% after company reports revenue pop in first earnings report since IPO [MSNBC.com]
FactSet Research Systems Inc. (FDS)
Last factset research systems inc. earnings: 3/26 07:01 am
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Source: MSNBC.com
In this articleReddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange (NYSE) in New York on March 21, 2024.Timothy A. Clary | AFP | Getty ImagesIPO in MarchHere's how the company did:Revenue climbed 48% from $163.7 million a year earlier. The company reported $222.7 million in ad revenue for the period, up 39% year over year, which is a faster rate of growth than at its top competitors.Digital advertising companies have startedgrowing againMetaAmazonGoogleReddit reported a net loss of $575.1 million. Stock-based compensation expenses and related taxes were $595.5 million, primarily driven by IPO charges.For the second quarter, Reddit expects revenue of $240 million to $255 million, topping the $224 million expected by analysts, according to LSEG. The midpoint of the guidance range suggests growth of about 32% for the second quarter, up from $183 million from a year earlier.Reddit, which hosts millions of online forums on its platform, was fou
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FDS
Earnings
- 3/21/24 - Beat
FDS
Sec Filings
- 5/16/24 - Form 4
- 5/15/24 - Form 144
- 5/10/24 - Form 4
- FDS's page on the SEC website