Reddit reported better-than-expected profit and revenue in its first-quarter earnings report on Thursday, and also issued an optimistic forecast. The stock jumped over 9% in extended trading.
Here’s how the company did compared with LSEG estimates:
Earnings per share: $1.01 vs. 58 cents expected
Revenue: $663 million vs. $611 million expected
Revenue jumped 69% in the quarter from $392 million a year earlier, Reddit said in an earnings release. Net income soared to $204 million, or $1.01 per share, from $26 million, or 13 cents per share, a year ago.
Reddit said second-quarter sales should be in the range of $715 million to $725 million, ahead of analyst estimates of $712 million. Adjusted earnings will be between $285 million and $295 million, topping the $276 million average estimate.
The strong results continue a trend in online advertising. Meta
and Alphabet
, the leaders in digital ads, both beat on revenue in their earnings reports on Wednesday, showing their fastest growth in years. They also revealed plans to increase the amount of money they’re spending on artificial intelligence infrastructure.
https://www.cnbc.com/2026/04/30/reddit-rddt-q1-2026-earnings-report.html