Reddit beats Q1 earnings estimates with 69% revenue growth, forecasts strong Q2 sales

Reddit reported first-quarter earnings and revenue that exceeded analyst expectations, with revenue rising 69% year-over-year to $663 million and net income soaring to $204 million. The company also forecasted second-quarter sales between $715 million and $725 million, above analyst estimates, signaling continued strong growth in online advertising. Daily active users and average revenue per user both surpassed projections, highlighting Reddit's expanding user engagement and monetization. CEO Steve Huffman emphasized Reddit's unique position driven by engaged communities and authentic conversations, positioning the company well amid increasing AI investments in the tech sector.