Reddit shares soar almost 20% after company reports revenue pop in first earnings report since IPO [CNBC]
Alphabet Inc. - Class C Capital Stock (GOOG)
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Source: CNBC
Here's how the company did: Loss per share: $8.19 loss per share. That may not compare with the $8.71 loss expected by LSEG Revenue: $243 million vs. $212.8 million expected by LSEG 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 started growing again at a healthy clip after brands reeled in spending to cope with inflation in 2022. Meta 's ad revenue jumped 27% in the first quarter, followed by 24% growth at Amazon and 13% growth at Google parent Alphabet. Reddit 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 expect revenue of $240 million to $255 million, topping the $224 million expected by analysts, according to LSEG. The midpoint of the guidance
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